BidaskClub downgraded shares of FS Investment Corporation (NYSE:FSIC) from a sell rating to a strong sell rating in a report released on Tuesday.
Other equities analysts also recently issued reports about the company. TheStreet raised FS Investment Corporation from a c rating to a b rating in a research report on Monday, April 17th. Zacks Investment Research raised FS Investment Corporation from a hold rating to a buy rating and set a $10.00 target price on the stock in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $10.00 target price on shares of FS Investment Corporation in a research report on Friday, April 28th. Finally, National Securities reissued a neutral rating and issued a $10.00 target price on shares of FS Investment Corporation in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.83.
Shares of FS Investment Corporation (NYSE:FSIC) remained flat at $8.40 during mid-day trading on Tuesday. The company’s stock had a trading volume of 1,511,821 shares. FS Investment Corporation has a 52-week low of $8.30 and a 52-week high of $10.80. The firm has a 50-day moving average of $9.03 and a 200-day moving average of $9.59.
FS Investment Corporation (NYSE:FSIC) last released its earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The firm had revenue of $98.70 million during the quarter, compared to analyst estimates of $103.14 million. Equities analysts anticipate that FS Investment Corporation will post $0.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.2228 per share. This represents a $0.89 annualized dividend and a yield of 10.61%. The ex-dividend date of this dividend is Tuesday, September 19th. FS Investment Corporation’s dividend payout ratio is currently 87.26%.
In related news, CEO Michael C. Forman purchased 17,100 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $8.41 per share, with a total value of $143,811.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David J. Adelman purchased 11,160 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the completion of the transaction, the director now directly owns 34,063 shares in the company, valued at approximately $302,479.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,980 shares of company stock worth $489,371 over the last ninety days. 1.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the company. BDO Wealth Advisors LLC bought a new stake in shares of FS Investment Corporation during the second quarter valued at $103,000. Advisory Services Network LLC bought a new stake in shares of FS Investment Corporation during the first quarter valued at $110,000. Wayne Hummer Investments L.L.C. bought a new stake in shares of FS Investment Corporation during the first quarter valued at $112,000. BLB&B Advisors LLC bought a new stake in shares of FS Investment Corporation during the first quarter valued at $113,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of FS Investment Corporation during the first quarter valued at $122,000. 31.84% of the stock is currently owned by institutional investors.
FS Investment Corporation Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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