Wells Fargo & Company Lowers Prospect Capital (NASDAQ:PSEC) Price Target to $3.50

Prospect Capital (NASDAQ:PSEC) had its price objective reduced by equities researchers at Wells Fargo & Company from $4.00 to $3.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential downside of 2.51% from the stock’s current price.

Separately, StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th.

Prospect Capital Trading Down 2.7 %

Prospect Capital stock opened at $3.59 on Monday. Prospect Capital has a one year low of $3.39 and a one year high of $5.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. The company’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $4.36. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -17.95 and a beta of 0.85.

Insider Transactions at Prospect Capital

In other Prospect Capital news, Director William Gremp purchased 19,100 shares of the stock in a transaction dated Tuesday, March 18th. The stock was bought at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the transaction, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John F. Barry purchased 24,000 shares of Prospect Capital stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $4.24 per share, for a total transaction of $101,760.00. Following the completion of the transaction, the chief executive officer now directly owns 82,594,540 shares in the company, valued at $350,200,849.60. The trade was a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC increased 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 worth $871,000 after acquiring an additional 103,679 shares in the last quarter. Legacy Wealth Management LLC MS bought a new stake in shares of Prospect Capital in the third quarter valued at about $451,000. Ridgeline Wealth LLC acquired a new stake in Prospect Capital during the fourth quarter worth approximately $407,000. Family Wealth Partners LLC lifted its holdings in shares of Prospect Capital by 52.8% during the 4th quarter. Family Wealth Partners LLC now owns 21,215 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 7,327 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of Prospect Capital in the 4th quarter valued at $79,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

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.