KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “
Separately, TheStreet raised KCAP Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $4.50.
KCAP Financial (NASDAQ:KCAP) traded down 1.25% during mid-day trading on Wednesday, reaching $4.74. The company had a trading volume of 57,134 shares. The firm’s 50-day moving average is $4.47 and its 200-day moving average is $3.89. The firm’s market capitalization is $174.06 million. KCAP Financial has a one year low of $2.62 and a one year high of $5.30.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, October 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.50%. The ex-dividend date of this dividend is Wednesday, October 12th. KCAP Financial’s dividend payout ratio is currently -71.43%.
Institutional investors have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC raised its position in KCAP Financial by 1.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 47,475 shares of the company’s stock worth $186,000 after buying an additional 480 shares in the last quarter. Diversified Trust Co raised its position in KCAP Financial by 4.0% in the second quarter. Diversified Trust Co now owns 194,003 shares of the company’s stock worth $760,000 after buying an additional 7,439 shares in the last quarter. Kellner Capital LLC raised its position in KCAP Financial by 6.5% in the second quarter. Kellner Capital LLC now owns 165,036 shares of the company’s stock worth $647,000 after buying an additional 10,000 shares in the last quarter. KCG Holdings Inc. bought a new position in KCAP Financial during the second quarter worth approximately $105,000. Finally, Stratos Wealth Partners LTD. bought a new position in KCAP Financial during the second quarter worth approximately $118,000. 15.54% of the stock is currently owned by institutional investors.
KCAP Financial Company Profile
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
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