Denali Advisors LLC Lowers Stock Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Denali Advisors LLC lessened its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 65.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,138 shares of the financial services provider’s stock after selling 207,098 shares during the quarter. Denali Advisors LLC’s holdings in Prospect Capital were worth $475,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PSEC. Van ECK Associates Corp raised its position in Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after buying an additional 1,690,290 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Prospect Capital by 344.0% during the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after acquiring an additional 722,925 shares during the period. Choreo LLC purchased a new position in Prospect Capital during the fourth quarter worth about $1,086,000. Arete Wealth Advisors LLC acquired a new stake in Prospect Capital in the third quarter valued at about $1,199,000. Finally, XML Financial LLC boosted its holdings in Prospect Capital by 8.1% in the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after purchasing an additional 153,180 shares in the last quarter. 9.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry bought 2,000,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were bought at an average price of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the acquisition, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.10% of the stock is currently owned by corporate insiders.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $4.31 on Friday. The company’s fifty day moving average is $4.31 and its two-hundred day moving average is $4.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $1.91 billion, a P/E ratio of -21.55 and a beta of 0.99. Prospect Capital Co. has a one year low of $4.09 and a one year high of $5.72.

Prospect Capital Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital’s payout ratio is currently -270.00%.

Analyst Ratings Changes

Separately, StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

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.