Iron Gate Global Advisors LLC Has $424,000 Position in FS KKR Capital Corp. $FSK

Iron Gate Global Advisors LLC cut its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 17.2% during the first quarter, Holdings Channel reports. The fund owned 19,565 shares of the company’s stock after selling 4,077 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in FS KKR Capital were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. boosted its stake in FS KKR Capital by 1.3% in the 4th quarter. Sunbelt Securities Inc. now owns 33,447 shares of the company’s stock valued at $726,000 after purchasing an additional 423 shares during the period. Kathmere Capital Management LLC boosted its stake in FS KKR Capital by 1.4% in the 1st quarter. Kathmere Capital Management LLC now owns 41,258 shares of the company’s stock valued at $864,000 after purchasing an additional 562 shares during the period. Liberty Square Wealth Partners LLC boosted its stake in FS KKR Capital by 1.2% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 52,508 shares of the company’s stock valued at $1,100,000 after purchasing an additional 602 shares during the period. Independent Wealth Network Inc. boosted its stake in FS KKR Capital by 2.7% in the 1st quarter. Independent Wealth Network Inc. now owns 25,300 shares of the company’s stock valued at $530,000 after purchasing an additional 672 shares during the period. Finally, Bison Wealth LLC boosted its stake in FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after purchasing an additional 720 shares during the period. 36.26% of the stock is owned by institutional investors and hedge funds.

FS KKR Capital Price Performance

NYSE:FSK opened at $17.77 on Thursday. The stock has a fifty day moving average price of $19.72 and a 200-day moving average price of $20.41. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a fifty-two week low of $17.35 and a fifty-two week high of $24.10.

FS KKR Capital (NYSE:FSK) last released its earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.23). The company had revenue of $398.00 million for the quarter, compared to the consensus estimate of $402.00 million. FS KKR Capital had a net margin of 13.24% and a return on equity of 6.24%. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, research analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.8%. The ex-dividend date is Wednesday, September 17th. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.64. FS KKR Capital’s dividend payout ratio is currently 328.21%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Royal Bank Of Canada reduced their price target on FS KKR Capital from $21.00 to $18.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 26th. Keefe, Bruyette & Woods reduced their price target on FS KKR Capital from $19.00 to $18.50 and set a “market perform” rating for the company in a research note on Tuesday, August 12th. Zacks Research upgraded FS KKR Capital to a “strong sell” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company reduced their price target on FS KKR Capital from $18.00 to $15.00 and set an “underweight” rating for the company in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital presently has an average rating of “Reduce” and a consensus target price of $18.42.

FS KKR Capital Company Profile

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.