Prospect Capital (NASDAQ:PSEC) Stock Passes Above Two Hundred Day Moving Average of $5.42

Prospect Capital Co. (NASDAQ:PSEC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.42 and traded as high as $5.49. Prospect Capital shares last traded at $5.48, with a volume of 2,976,542 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PSEC shares. Wells Fargo & Company reduced their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, August 30th. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

Prospect Capital Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $5.26 and its two-hundred day simple moving average is $5.42. The company has a market capitalization of $2.29 billion, a P/E ratio of 16.12 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The company had revenue of $212.26 million during the quarter. During the same quarter in the previous year, the firm earned $0.23 EPS.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.72 dividend on an annualized basis and a yield of 13.14%. Prospect Capital’s payout ratio is 211.76%.

Institutional Trading of Prospect Capital

A number of institutional investors have recently modified their holdings of PSEC. OLD National Bancorp IN bought a new stake in shares of Prospect Capital in the second quarter worth $137,000. Quadrature Capital Ltd acquired a new position in Prospect Capital during the fourth quarter valued at approximately $888,000. Kingsview Wealth Management LLC bought a new position in Prospect Capital in the first quarter valued at approximately $91,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Prospect Capital during the 1st quarter worth approximately $94,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Prospect Capital by 59.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 147,460 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.