StockNews.com Downgrades Prospect Capital (NASDAQ:PSEC) to Sell

Prospect Capital (NASDAQ:PSEC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Prospect Capital Stock Performance

PSEC traded down $0.35 during midday trading on Friday, reaching $3.70. The company had a trading volume of 8,922,679 shares, compared to its average volume of 2,656,632. The business has a 50-day moving average of $4.27 and a two-hundred day moving average of $4.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital has a 1 year low of $3.69 and a 1 year high of $5.72. The company has a market cap of $1.65 billion, a P/E ratio of -18.50 and a beta of 0.85.

Insider Transactions at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 240,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $1,008,000.00. Following the completion of the transaction, the chief executive officer now directly owns 81,981,933 shares of the company’s stock, valued at approximately $344,324,118.60. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Gremp bought 19,100 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were acquired at an average price of $4.29 per share, with a total value of $81,939.00. Following the transaction, the director now directly owns 75,153 shares of the company’s stock, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,548,000 shares of company stock valued at $10,970,715 over the last three months. Corporate insiders own 28.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of Prospect Capital by 99.4% in the third quarter. BNP Paribas Financial Markets now owns 136,249 shares of the financial services provider’s stock worth $729,000 after buying an additional 67,920 shares in the last quarter. Captrust Financial Advisors lifted its stake in Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Prospect Capital during the 3rd quarter valued at about $88,000. Virtu Financial LLC grew its position in shares of Prospect Capital by 175.2% during the third quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 103,679 shares in the last quarter. Finally, Legacy Wealth Management LLC MS bought a new stake in shares of Prospect Capital in the third quarter worth about $451,000. 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.