Silver Point Capital L.P. Acquires New Stake in FS KKR Capital Corp. $FSK

Silver Point Capital L.P. acquired a new stake in FS KKR Capital Corp. (NYSE:FSKFree Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,724,000 shares of the company’s stock, valued at approximately $28,602,000,000. FS KKR Capital makes up 2.6% of Silver Point Capital L.P.’s portfolio, making the stock its 6th biggest position.

A number of other large investors also recently bought and sold shares of FSK. Jessup Wealth Management Inc purchased a new stake in FS KKR Capital in the 4th quarter valued at approximately $26,000. Harborfront Financial Group LLC acquired a new stake in shares of FS KKR Capital in the 2nd quarter valued at approximately $30,000. Basepoint Wealth LLC purchased a new stake in shares of FS KKR Capital in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its holdings in FS KKR Capital by 201.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock worth $40,000 after acquiring an additional 1,789 shares during the period. Finally, Knott David M Jr purchased a new position in FS KKR Capital in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

NYSE:FSK opened at $12.16 on Thursday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $11.09 and a two-hundred day moving average price of $11.08. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $18.25. The company has a market capitalization of $3.36 billion, a P/E ratio of -9.01 and a beta of 0.83.

FS KKR Capital (NYSE:FSKGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $290.00 million for the quarter, compared to the consensus estimate of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same quarter in the prior year, the firm earned ($0.75) earnings per share. As a group, research analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 14.5%. The ex-dividend date of this dividend is Wednesday, September 16th. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio is currently -124.44%.

Analyst Ratings Changes

FSK has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada reissued a “sector perform” rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Truist Financial increased their target price on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $11.43.

Check Out Our Latest Stock Analysis on FS KKR Capital

FS KKR Capital Profile

(Free Report)

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.

Further Reading

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:FSKFree Report).

Institutional Ownership by Quarter for FS KKR Capital (NYSE:FSK)

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