Ocean Park Asset Management LLC Buys New Position in FS KKR Capital Corp. $FSK

Ocean Park Asset Management LLC acquired a new stake in FS KKR Capital Corp. (NYSE:FSK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 105,371 shares of the company’s stock, valued at approximately $1,072,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bulldog Investors LLP purchased a new position in FS KKR Capital during the 3rd quarter worth approximately $3,600,000. UBS Group AG raised its position in shares of FS KKR Capital by 15.3% in the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after acquiring an additional 505,982 shares during the period. Titan Investment Management LLC purchased a new position in shares of FS KKR Capital during the 4th quarter valued at approximately $1,863,000. Legacy Capital Group California Inc. lifted its stake in FS KKR Capital by 48.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 313,615 shares of the company’s stock valued at $4,645,000 after buying an additional 102,864 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in FS KKR Capital by 15.3% in the 4th quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock valued at $33,993,000 after purchasing an additional 304,556 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FSK. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Keefe, Bruyette & Woods decreased their target price on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. B. Riley Financial reduced their target price on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $10.58.

FS KKR Capital Price Performance

Shares of NYSE:FSK opened at $10.28 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. The company has a market cap of $2.88 billion, a P/E ratio of -5.22 and a beta of 0.83. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $22.68. The company has a 50-day moving average price of $10.81 and a 200 day moving average price of $12.27.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The business had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $316.81 million. During the same period in the prior year, the firm posted $0.65 EPS. FS KKR Capital’s revenue for the quarter was down 24.0% compared to the same quarter last year. Research analysts predict that FS KKR Capital Corp. will post 1.66 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a yield of 16.4%. FS KKR Capital’s payout ratio is currently -85.28%.

FS KKR Capital Company Profile

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.