Prospect Capital Corporation (PSEC) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $9 . FBR Capital advised their investors in a research report released on Aug 31, 2016.
On the company’s financial health, Prospect Capital Corporation reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.26. The company had revenue of $189.50 million for the quarter, compared to analysts expectations of $195.34 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.
Prospect Capital Corporation closed down -0.01 points or -0.12% at $8.47 with 21,50,219 shares getting traded on Monday. Post opening the session at $8.45, the shares hit an intraday low of $8.4 and an intraday high of $8.485 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 16, 2016, Eugene S Stark (director) purchased 1,000 shares at $7.45 per share price. According to the SEC, on Mar 3, 2016, M Grier Eliasek (COO) purchased 15,000 shares at $7.25 per share price. On Feb 24, 2016, John F Barry (CEO) purchased 1,100,000 shares at $6.95 per share price, according to the Form-4 filing with the securities and exchange commission.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified 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. It 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 Company primarily lends to and invests in middle market privately-held companies. Its investments include 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 Company is managed by its investment adviser Prospect Capital Management L.P.