Prospect Capital (NASDAQ:PSEC) Rating Increased to Hold at StockNews.com

Prospect Capital (NASDAQ:PSEC - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Prospect Capital Stock Performance

PSEC traded up $0.05 during mid-day trading on Friday, reaching $3.53. 666,760 shares of the company traded hands, compared to its average volume of 2,743,420. The stock has a market capitalization of $1.57 billion, a P/E ratio of -17.63 and a beta of 0.85. Prospect Capital has a 52-week low of $3.39 and a 52-week high of $5.72. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The company's fifty day moving average price is $4.13 and its 200-day moving average price is $4.47.

Insiders Place Their Bets

In related news, CEO John F. Barry bought 24,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $4.24 per share, with a total value of $101,760.00. Following the acquisition, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Gremp purchased 19,100 shares of Prospect Capital stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $4.29 per share, with a total value of $81,939.00. Following the transaction, the director now owns 75,153 shares of the company's stock, valued at approximately $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,548,000 shares of company stock worth $10,970,715. Company insiders own 28.25% of the company's stock.

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Institutional Trading of Prospect Capital

Institutional investors and hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. bought a new stake in Prospect Capital during the fourth quarter valued at about $44,000. Envision Financial Planning LLC bought a new position in Prospect Capital in the 4th quarter worth approximately $56,000. PFG Advisors purchased a new stake in Prospect Capital during the 4th quarter valued at approximately $57,000. Captrust Financial Advisors lifted its holdings in shares of Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider's stock worth $76,000 after buying an additional 3,686 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in Prospect Capital during the fourth quarter valued at $62,000. 9.06% of the stock is currently owned by institutional investors.

About Prospect Capital

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.