Cambridge Investment Research Advisors Inc. trimmed its holdings in FS KKR Capital Corp. (NYSE:FSK – Free Report) by 14.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,586,949 shares of the company’s stock after selling 272,355 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in FS KKR Capital were worth $23,503,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in FS KKR Capital during the fourth quarter valued at about $26,000. FNY Investment Advisers LLC purchased a new stake in FS KKR Capital during the fourth quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in FS KKR Capital during the fourth quarter valued at about $31,000. Strategic Advocates LLC purchased a new stake in FS KKR Capital during the third quarter valued at about $38,000. Finally, Rothschild Investment LLC lifted its stake in FS KKR Capital by 59.9% during the third quarter. Rothschild Investment LLC now owns 3,194 shares of the company’s stock valued at $48,000 after buying an additional 1,196 shares in the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Daniel Pietrzak purchased 5,000 shares of the stock in a transaction on Friday, February 27th. The shares were bought at an average price of $11.25 per share, for a total transaction of $56,250.00. Following the completion of the acquisition, the insider directly owned 64,800 shares in the company, valued at approximately $729,000. This trade represents a 8.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
FS KKR Capital Trading Down 2.0%
FS KKR Capital (NYSE:FSK – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. During the same quarter in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was down 24.0% on a year-over-year basis. On average, research analysts forecast that FS KKR Capital Corp. will post 1.68 EPS for the current fiscal year.
FS KKR Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a yield of 15.6%. FS KKR Capital’s dividend payout ratio is currently -91.37%.
Analyst Ratings Changes
A number of analysts have commented on FSK shares. Wall Street Zen lowered shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wells Fargo & Company reduced their price objective on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 price objective on shares of FS KKR Capital in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.58.
Check Out Our Latest Stock Analysis on FS KKR Capital
FS KKR Capital Profile
FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.
Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.
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Want to see what other hedge funds are holding FSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS KKR Capital Corp. (NYSE:FSK – Free Report).
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