Next Level Private LLC Decreases Position in Prospect Capital Co. (NASDAQ:PSEC)

Next Level Private LLC lowered its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,111 shares of the financial services provider’s stock after selling 17,181 shares during the quarter. Next Level Private LLC’s holdings in Prospect Capital were worth $134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PSEC. MWA Asset Management purchased a new stake in shares of Prospect Capital during the third quarter worth approximately $53,000. Global Assets Advisory LLC purchased a new stake in shares of Prospect Capital during the third quarter worth $64,000. Family Wealth Partners LLC acquired a new stake in shares of Prospect Capital in the third quarter valued at about $74,000. Captrust Financial Advisors lifted its stake in shares of Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after buying an additional 3,686 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in Prospect Capital during the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Insider Activity

In related news, CEO John F. Barry acquired 205,900 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $4.40 per share, for a total transaction of $905,960.00. Following the acquisition, the chief executive officer now owns 72,612,839 shares in the company, valued at $319,496,491.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO M Grier Eliasek bought 210,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was bought at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the acquisition, the chief operating officer now directly owns 2,131,130 shares in the company, valued at $10,250,735.30. The trade was a 10.93 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 5,273,173 shares of company stock valued at $23,701,420. 27.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $4.38 on Tuesday. Prospect Capital Co. has a 52-week low of $4.09 and a 52-week high of $6.19. The stock has a market cap of $1.91 billion, a P/E ratio of -16.85 and a beta of 0.99. The business has a fifty day moving average of $4.42 and a two-hundred day moving average of $4.92. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The firm had revenue of $196.31 million during the quarter.

Prospect Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.33%. Prospect Capital’s dividend payout ratio is currently -207.69%.

Prospect Capital 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.