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William Packer  

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  • William Packer
    Investors in $ARCC, $PSEC, $PNNT, $AINV, $FSC better off selling shares and buying $FSAM stock. No non-accrual/NAV risk. Growth to income.
    Mon, 4:23 PM
    Reply (1)
    • William Packer: Total returns even from a dividend prospective should exceed ROEs for most BDCs at these prices.
      Mon, 4:24 PM
      • William Packer
        Bought 36,500 shares of $FSAM @ $11. Valuation should be higher than $MDLY which earned only 0.21 per share last quarter vs FSAM 0.26.
        Mon, 3:54 PM
        Reply (9)
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        • William Packer: It's all about perceptions.
          Mon, 4:32 PM
        • Keith E. Williams: I totally understand
          Mon, 4:35 PM
          • William Packer
            Bought 228 more shares of $MCC today at $8.95. Total shares 93,080.MCC remains the most attractive risk:return priced BDC in the market
            Apr 13, 1:21 PM
            Reply (1)
            • Keith E. Williams: Followed 300@8.96. Holdings considerably smaller.
              Apr 13, 2:17 PM
              • William Packer
                I am putting a personal price target on $MTGE of $16. Driven by lower core EPS due to a flatter yield curve, higher fed rates...
                Apr 10, 1:57 PM
                Reply (18)
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                • William Packer: (30,30,30,Flexible 10, refers to capital allocation percentages)
                  Apr 10, 2:16 PM
                • Rob1492: I disagree... If MTGE falls it will be in line with other mREITs.. they will more than cover their dividend and will use excesss to grow NAV
                  Apr 10, 2:43 PM
                  • William Packer
                    $MCC likely to be fully repaid from $ESSX loan soon. ESSX considering the sale of the company.
                    Apr 10, 10:20 AM
                    Reply (1)
                    • Keith E. Williams: yeah! :]
                      Apr 10, 10:29 AM
                      • William Packer
                        $MCC cannot comment on individual credits... however, $MCC confirmed they have a loan with Pegasus solutions and that is Pegasus's website.
                        Apr 8, 11:02 AM
                        Reply (7)
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                        • William Packer: Once credit quality stabilizes, I see fair value at 1x book...and if MCC is successful at growing NII, I see a return to a premium valuation
                          Apr 8, 11:19 AM
                        • Keith E. Williams: Thanks again for the info.
                          Apr 8, 3:42 PM
                          • William Packer
                            $MCC has a loan to pegasus solutions but pegasus solutions lies on their webpage. . They claim....
                            Apr 7, 2:44 PM
                            Reply (9)
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                            • William Packer: I am waiting on a call back from IR @ MCC and I was unable to get in contact with pegasus so far.
                              Apr 7, 3:54 PM
                            • clrodrick: Glad you're being very proactive here William. Good to know as many details as possible on MCC's larger investments.
                              Apr 7, 8:11 PM
                              • William Packer
                                $MCC is invested in $WMLP through a subsidiary of WMLP. (Oxford Mining Company, LLC, 1.7% of assets)
                                Apr 7, 2:38 PM
                                Reply (2)
                                • William Packer: The ticker is real.. it is WMLP. But seeking alpha does not know of this company.. but you can find it through any brokerage firm or google
                                  Apr 7, 2:38 PM
                                • William Packer: Senior Secured First Lien Term Loan (LIBOR + 8.50% Cash, 3.00% PIK, 0.75% LIBOR Floor)
                                  Apr 7, 2:39 PM
                                  • William Packer
                                    $MCC has a senior secured note with this company $LNCGY. 0.5% of assets.
                                    Apr 7, 1:52 PM
                                    Reply (2)
                                    • chuck holladay: Are they are receiving high returns on the money? $LNCGY seems to thinly traded.
                                      Apr 7, 1:56 PM
                                    • William Packer: chuck, the note pays MCC 12.50%
                                      Apr 7, 2:10 PM
                                      • William Packer
                                        $MCC has a first lien, senior secured loan to this company: $ESSX. The assets clearly are enough to protect the lender, though.
                                        Apr 7, 12:50 PM
                                        Reply (2)
                                        • William Packer: This investment represents 2.9% of MCC's portfolio.
                                          Apr 7, 1:18 PM
                                        • William Packer: Shareholder assets are close to $5 of equity.. so... there is an equity cushion for MCC.
                                          Apr 7, 1:19 PM
                                          • William Packer
                                            Higher oil prices should lift $MCC and other BDCs that have oil investments higher today. $PNNT, $TSLX, $AINV, $PSEC
                                            Apr 7, 11:46 AM
                                            Reply (1)
                                            • William Packer: $53 per brl now. moving up! I prefer MCC in this group on BDCs to benefit.. the stock is also trending higher today.
                                              Apr 7, 11:48 AM
                                              • William Packer
                                                After a longer review of FC operating and the latest filings... I am updating NAV estimates.$11.62 per share, down from $11.74 @Q4end.$MCC
                                                Apr 4, 1:54 PM
                                                Reply (18)
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                                                • William Packer: So overtime the management fees will come down on the book.
                                                  Apr 4, 2:41 PM
                                                • William Packer: But it won't hurt MDLY shareholders really because growth in AUM is still growth in AUM... But it helps MCC too.
                                                  Apr 4, 2:41 PM
                                                  • William Packer
                                                    $MCC NAV estimate Q1 2015 Updated for "FC operating" default. $11.50 per share. Range of error $11.42 to $11.58.
                                                    Apr 2, 3:35 PM
                                                    Reply (12)
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                                                    • William Packer: And they were completely confused as to why MCC would lend money to them.
                                                      Apr 2, 4:44 PM
                                                    • William Packer: So terrible judgement call there by MCC management... They really need to be pounded on why they made that investment.
                                                      Apr 2, 4:45 PM
                                                      • William Packer
                                                        Huge blow today for $MDLY on their plan to get $MCC back above NAV to fuel AUM growth thanks to UBS downgrade, investor confusions on data.
                                                        Apr 1, 2:30 PM
                                                        Reply (2)
                                                        • William Packer: I am surprised MDLY is only down to $10.50.. I would have thought a larger decline. However, I Maintain my $8 PT on MDLY.
                                                          Apr 1, 2:32 PM
                                                        • William Packer: I see little to no AUM growth at MDLY for all of 2015 and possibly even most of 2016. MCC is very far away from NAV.
                                                          Apr 1, 2:34 PM
                                                          • William Packer
                                                            Oil back above $50... Big positive for $MCC and most BDCs... $AINV, $PNNT, $PSEC, $FSIC
                                                            Apr 1, 2:23 PM
                                                            Reply (1)
                                                            • dundey: As well as the energy MLP's - $CVRR, $LNCO, $PGH and several others!
                                                              Apr 1, 2:38 PM
                                                              • William Packer
                                                                UBS could have cut $MCC PT and rating anytime since the last eps report.. But they cut after $MDLY reported. The confusion continues, $FSC
                                                                Apr 1, 11:29 AM
                                                                Reply (5)
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                                                                • COBeeMan: Therefore, I am buying on this dip.
                                                                  Apr 1, 12:43 PM
                                                                • dundey: Buying the $FSC dip as well.
                                                                  Apr 1, 2:40 PM
                                                                  • William Packer
                                                                    $MCC stock down on confusion by investors who think the 0.20 dividend $MDLY declared is for $MCC.. thus they think the dividend was cut.Imo.
                                                                    Mar 31, 11:17 AM
                                                                    Reply (6)
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                                                                    • William Packer: Yeah, Keith, I thought it was pretty interesting to see... although, nothing really surprises me anymore.
                                                                      Mar 31, 11:41 AM
                                                                    • riotmaker: Wow. The drop in $MCC is real. Logic just went out the window
                                                                      Apr 1, 11:20 AM
                                                                      • William Packer
                                                                        I am initiating a SELL rating on $PSEC & an $8 price target on the stock.I see the new dividend under pressure by mid 2016 and further cuts
                                                                        Mar 31, 10:58 AM
                                                                        Reply (10)
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                                                                        • William Packer: Shareholders burned already by below NAV issuance and extremely high management fees... not much incentive to trade higher than current PPS.
                                                                          Mar 31, 11:08 AM
                                                                        • William Packer: Recommend investors look to SELL PSEC and move capital to other BDCs like MCC which trades at a steeper discount and higher yield.
                                                                          Mar 31, 11:11 AM
                                                                          • William Packer
                                                                            After listening to the $MDLY conference call.I am maintaining my BUY rating on $MCC but increasing the Price Target to $10.75. (0.90x BVPS)
                                                                            Mar 31, 10:51 AM
                                                                            Reply (2)
                                                                            • William Packer: Currently, the stock trades at $9.20 per share. I see this as an attractive return given the quarterly dividend rate of 0.30 per share.
                                                                              Mar 31, 10:53 AM
                                                                            • William Packer: I see further improvement possible beyond the price target, should MCC be successful deploying capital into their new JV over the next year.
                                                                              Mar 31, 10:54 AM
                                                                              • William Packer
                                                                                Big miss on $MDLY earnings. Interesting...
                                                                                Mar 30, 4:44 PM