Next Level Private LLC Reduces Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Next Level Private LLC trimmed its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 30.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 30,753 shares of the financial services provider’s stock after selling 13,262 shares during the quarter. Next Level Private LLC’s holdings in Prospect Capital were worth $184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSEC. DNB Asset Management AS boosted its stake in shares of Prospect Capital by 19.8% during the fourth quarter. DNB Asset Management AS now owns 254,115 shares of the financial services provider’s stock valued at $1,522,000 after purchasing an additional 42,005 shares during the period. Van ECK Associates Corp boosted its stake in shares of Prospect Capital by 8.0% during the third quarter. Van ECK Associates Corp now owns 4,884,389 shares of the financial services provider’s stock valued at $29,551,000 after purchasing an additional 360,385 shares during the period. Jump Financial LLC boosted its stake in shares of Prospect Capital by 1,166.6% during the third quarter. Jump Financial LLC now owns 159,400 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 146,815 shares during the period. HighTower Advisors LLC boosted its stake in shares of Prospect Capital by 3.6% during the third quarter. HighTower Advisors LLC now owns 158,932 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,588 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Prospect Capital by 613.1% during the third quarter. PNC Financial Services Group Inc. now owns 111,012 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 95,444 shares during the period. 9.06% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital Price Performance

PSEC stock opened at $5.51 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50-day moving average price of $5.69 and a 200 day moving average price of $5.80. Prospect Capital Co. has a 1-year low of $5.03 and a 1-year high of $6.99.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $210.94 million during the quarter, compared to the consensus estimate of $226.14 million. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. As a group, equities research analysts anticipate that Prospect Capital Co. will post 0.82 earnings per share for the current fiscal year.

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Friday, April 26th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.72 dividend on an annualized basis and a yield of 13.07%. Prospect Capital’s dividend payout ratio is presently -359.98%.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their target price on shares of Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research note on Monday, January 29th.

Insiders Place Their Bets

In related news, CFO Dask Kristin Lea Van acquired 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $54,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. 26.69% of the stock is currently owned by corporate insiders.

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.