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

Denali Advisors LLC lowered its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 65.3% in the fourth quarter, HoldingsChannel reports. 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.

Other large investors have also modified their holdings of the company. XML Financial LLC raised its stake in Prospect Capital by 8.1% during the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock worth $10,938,000 after purchasing an additional 153,180 shares during the period. Van ECK Associates Corp raised its position in shares of Prospect Capital by 23.3% in 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 period. International Assets Investment Management LLC boosted its holdings in Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after acquiring an additional 722,925 shares during the last quarter. Navis Wealth Advisors LLC purchased a new stake in Prospect Capital during the fourth quarter valued at about $263,000. Finally, XTX Topco Ltd acquired a new stake in Prospect Capital during the third quarter worth about $88,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $4.31 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.91 billion, a PE ratio of -21.55 and a beta of 0.99. The company’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $4.76. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72.

Prospect Capital Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO John F. Barry bought 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the acquisition, the chief executive officer now owns 79,477,549 shares in the company, valued at $340,958,685.21. This represents a 2.58 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 27.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.