The stock of Prospect Capital Corporation (NASDAQ:PSEC) is a huge mover today! About 782,395 shares traded hands. Prospect Capital Corporation (NASDAQ:PSEC) has risen 17.44% since March 11, 2016 and is uptrending. It has outperformed by 11.98% the S&P500.
The move comes after 7 months negative chart setup for the $2.89 billion company. It was reported on Oct, 14 by Barchart.com. We have $7.44 PT which if reached, will make NASDAQ:PSEC worth $202.30M less.
Prospect Capital Corporation (NASDAQ:PSEC) Ratings Coverage
Out of 8 analysts covering Prospect Capital Corporation (NASDAQ:PSEC), 2 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 25% are positive. Prospect Capital Corporation has been the topic of 10 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The stock of Prospect Capital Corporation (NASDAQ:PSEC) earned “Underperform” rating by Wells Fargo on Monday, January 11. FBR Capital maintained it with “Outperform” rating and $10 target price in Wednesday, August 31 report. The firm earned “Sell” rating on Wednesday, July 20 by National Securities. The firm has “Neutral” rating by National Securities given on Friday, January 29. The firm has “Hold” rating given on Thursday, April 28 by Deutsche Bank. Raymond James downgraded Prospect Capital Corporation (NASDAQ:PSEC) on Thursday, February 11 to “Underperform” rating. The firm has “Sector Perform” rating given on Thursday, February 11 by RBC Capital Markets.
According to Zacks Investment Research, “Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments.”
Insitutional Activity: The institutional sentiment increased to 0.99 in Q2 2016. Its up 0.10, from 0.89 in 2016Q1. The ratio improved, as 29 funds sold all Prospect Capital Corporation shares owned while 49 reduced positions. 15 funds bought stakes while 62 increased positions. They now own 36.56 million shares or 6.07% less from 38.92 million shares in 2016Q1.
The Germany-based Deutsche State Bank Ag has invested 0% in Prospect Capital Corporation (NASDAQ:PSEC). Northern Trust reported 34,864 shares or 0% of all its holdings. Royal Commercial Bank Of Canada holds 0% or 185,952 shares in its portfolio. Planning Corp accumulated 63,605 shares or 0.04% of the stock. Gradient Ltd Com accumulated 0% or 1,185 shares. The Texas-based Next Finance has invested 0.02% in Prospect Capital Corporation (NASDAQ:PSEC). Guggenheim Capital Ltd Company has 0.01% invested in the company for 358,065 shares. Morgan Stanley owns 3.27M shares or 0.01% of their US portfolio. Selway Asset has invested 0.17% of its portfolio in Prospect Capital Corporation (NASDAQ:PSEC). First Allied Advisory Svcs has 77,500 shares for 0.03% of their US portfolio. Sumitomo Mitsui Tru, a Japan-based fund reported 15,185 shares. Wells Fargo And Mn holds 166,176 shares or 0% of its portfolio. Highlander Capital Limited Liability Com last reported 0.32% of its portfolio in the stock. Peak6 Invs L P, a Illinois-based fund reported 4,826 shares. Creative Planning has 247,885 shares for 0.01% of their US portfolio.
Insider Transactions: Since May 12, 2016, the stock had 4 insider purchases, and 0 sales for $63,500 net activity. On Thursday, May 12 Stark Eugene S bought $7,450 worth of the stock or 1,000 shares. $7,850 worth of shares were bought by OSWALD BRIAN H on Monday, September 12.
More notable recent Prospect Capital Corporation (NASDAQ:PSEC) news were published by: Fool.com which released: “Downgrades: 3 Reasons Wall Street Hates Prospect Capital Corp and Apollo …” on February 11, 2016, also Nasdaq.com with their article: “RSI Alert: Prospect Capital Corporation Now Oversold” published on September 12, 2016, Seekingalpha.com published: “Prospect Capital Corporation: The Sale Candidate” on May 26, 2016. More interesting news about Prospect Capital Corporation (NASDAQ:PSEC) were released by: Forbes.com and their article: “Prospect Capital About To Put More Money In Your Pocket (PSEC)” published on September 26, 2016 as well as Nasdaq.com‘s news article titled: “Prospect Capital Corporation (PSEC) Ex-Dividend Date Scheduled for September …” with publication date: September 27, 2016.
PSEC Company Profile
Prospect Capital Corporation, incorporated on April 13, 2004, is a financial services company. The Firm primarily lends to and invests in middle market privately held companies. The Firm is a closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. The Firm invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. The Firm works with the management teams or financial sponsors to seek investments with historical cash flows, asset collateral or contracted pro-forma cash flows. The Firm makes investments, including lending in private equity sponsored transactions, lending directly to companies not owned by private equity firms, control investments in corporate operating companies, control investments in financial companies, investments in structured credit, real estate investments, investments in syndicated debt, aircraft leasing and online lending. The Firm is managed by its investment advisor, Prospect Capital Management L.P.
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