Wealth Effects LLC Lowers Stock Holdings in FS KKR Capital Corp. (NYSE:FSK)

by · The Markets Daily

Wealth Effects LLC lowered its stake in FS KKR Capital Corp. (NYSE:FSK – Free Report) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,540 shares of the company’s stock after selling 13,610 shares during the period. Wealth Effects LLC’s holdings in FS KKR Capital were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in FS KKR Capital in the second quarter worth about $30,000. Ridgewood Investments LLC bought a new position in FS KKR Capital in the 2nd quarter valued at approximately $37,000. Mather Group LLC. purchased a new stake in FS KKR Capital during the 1st quarter valued at $39,000. Rothschild Investment LLC purchased a new stake in FS KKR Capital during the 2nd quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. increased its holdings in shares of FS KKR Capital by 198.7% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock worth $42,000 after purchasing an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of NYSE FSK traded up $0.18 during midday trading on Monday, hitting $20.70. 645,890 shares of the company’s stock traded hands, compared to its average volume of 1,423,643. The firm has a fifty day moving average of $19.88 and a 200 day moving average of $19.82. FS KKR Capital Corp. has a 1 year low of $18.31 and a 1 year high of $20.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 8.63 and a beta of 1.25.

FS KKR Capital (NYSE:FSK – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $426.41 million. FS KKR Capital had a net margin of 35.46% and a return on equity of 12.39%. During the same period in the prior year, the company earned $0.78 earnings per share. On average, analysts forecast that FS KKR Capital Corp. will post 2.86 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently announced a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.70 dividend. This is a boost from FS KKR Capital’s previous None dividend of $0.64. This represents a yield of 12.7%. The ex-dividend date of this dividend is Wednesday, December 4th. FS KKR Capital’s dividend payout ratio (DPR) is currently 106.67%.

Insider Buying and Selling at FS KKR Capital

In other news, CEO Michael C. Forman sold 195,139 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.56, for a total value of $3,816,918.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $19.21 per share, for a total transaction of $96,050.00. Following the purchase, the insider now owns 44,800 shares of the company’s stock, valued at approximately $860,608. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael C. Forman sold 195,139 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on FS KKR Capital from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $20.00 price target on shares of FS KKR Capital in a report on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.06.

View Our Latest Research Report on FSK

About FS KKR Capital

(Free Report)

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.

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