MGO One Seven LLC trimmed its position in FS KKR Capital Corp. (NYSE:FSK – Free Report) by 84.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,659 shares of the company’s stock after selling 416,304 shares during the quarter. MGO One Seven LLC’s holdings in FS KKR Capital were worth $1,165,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSK. Thurston Springer Miller Herd & Titak Inc. acquired a new position in FS KKR Capital in the 4th quarter valued at $26,000. FNY Investment Advisers LLC acquired a new position in FS KKR Capital in the 4th quarter valued at $28,000. Eastern Bank grew its holdings in FS KKR Capital by 355.6% in the 3rd quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,561 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in FS KKR Capital in the 4th quarter valued at $31,000. Finally, Strategic Advocates LLC acquired a new position in FS KKR Capital in the 3rd quarter valued at $38,000. 36.26% of the stock is owned by institutional investors and hedge funds.
FS KKR Capital Stock Performance
NYSE:FSK opened at $10.74 on Tuesday. The stock has a fifty day moving average price of $10.60 and a 200-day moving average price of $13.21. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 358.10 and a beta of 0.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.05 and a current ratio of 3.05. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68.
FS KKR Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date is Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is presently 6,000.00%.
Insider Buying and Selling at FS KKR Capital
In other FS KKR Capital news, insider Daniel Pietrzak acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the transaction, the insider directly owned 64,800 shares in the company, valued at $729,000. This represents a 8.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
FSK has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. B. Riley Financial decreased their price objective on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada decreased their price objective on FS KKR Capital from $15.00 to $13.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. Weiss Ratings downgraded FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating for the company in a research report on Friday, March 13th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $11.08.
Read Our Latest Stock Report on FSK
Key Headlines Impacting FS KKR Capital
Here are the key news stories impacting FS KKR Capital this week:
- Positive Sentiment: The board declared a second-quarter dividend of $0.42 per share, reinforcing FSK’s income appeal and implying a high annualized yield of about 15.6%. Article Title
- Neutral Sentiment: KKR Alternative Assets said it plans a tender offer for up to $150 million of FSK common stock and will provide a $150 million convertible preferred equity commitment, which could add financial support and improve flexibility. Article Title
- Negative Sentiment: FS KKR reported weaker-than-expected Q1 results, with EPS of $0.41 missing estimates and revenue of $304 million also falling short, adding to concerns about earnings momentum. Article Title
- Negative Sentiment: JPMorgan-led lenders reduced FSK’s credit facility by about $648 million and increased borrowing costs, signaling tighter financing conditions and rising risk. Article Title
- Negative Sentiment: Multiple shareholder lawsuits and law-firm alerts were filed over alleged securities-law violations, creating additional headline risk and potential legal costs. Article Title
About FS KKR Capital
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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