FS KKR Capital Corp. (NYSE:FSK) Sees Large Increase in Short Interest

FS KKR Capital Corp. (NYSE:FSK) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 9,311,295 shares, a growth of 104.9% from the February 12th total of 4,543,383 shares. Based on an average daily volume of 5,816,565 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 5,816,565 shares, the days-to-cover ratio is currently 1.6 days.

FS KKR Capital Trading Down 1.5%

Shares of FSK traded down $0.16 during trading hours on Friday, hitting $10.09. The company had a trading volume of 4,076,510 shares, compared to its average volume of 5,313,863. The business has a fifty day moving average of $13.10 and a 200-day moving average of $14.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 3.05. FS KKR Capital has a 12 month low of $10.06 and a 12 month high of $22.68.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. The firm had revenue of $348.00 million during the quarter, compared to the consensus estimate of $361.59 million. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, analysts predict that FS KKR Capital will post 2.89 earnings per share for the current year.

FS KKR Capital Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be given a $0.03 dividend. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 1,595.0%. FS KKR Capital’s dividend payout ratio (DPR) is presently 8,533.33%.

Insider Transactions at FS KKR Capital

In other news, insider Daniel Pietrzak acquired 5,000 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $11.25 per share, with a total value of $56,250.00. Following the completion of the acquisition, the insider owned 64,800 shares in the company, valued at approximately $729,000. This represents a 8.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FS KKR Capital

Large investors have recently bought and sold shares of the company. Bison Wealth LLC boosted its holdings in shares of FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after purchasing an additional 720 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock worth $5,612,000 after buying an additional 32,258 shares during the last quarter. Empowered Funds LLC boosted its stake in FS KKR Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after buying an additional 15,596 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in FS KKR Capital in the second quarter valued at about $26,000. Finally, Savant Capital LLC grew its position in FS KKR Capital by 37.0% in the second quarter. Savant Capital LLC now owns 21,685 shares of the company’s stock valued at $450,000 after acquiring an additional 5,857 shares during the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FSK shares. B. Riley Financial dropped their price target on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their target price on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. reduced their price target on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating for the company in a research report on Friday. Keefe, Bruyette & Woods lowered their price target on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada cut their price objective on FS KKR Capital from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 27th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $13.36.

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.