Naviter Wealth LLC Has $1.51 Million Stock Position in FS KKR Capital Corp. $FSK

Naviter Wealth LLC lowered its holdings in FS KKR Capital Corp. (NYSE:FSK) by 39.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,031 shares of the company’s stock after selling 66,969 shares during the quarter. Naviter Wealth LLC’s holdings in FS KKR Capital were worth $1,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. bought a new stake in shares of FS KKR Capital in the 3rd quarter worth approximately $21,917,000. Van ECK Associates Corp lifted its position in shares of FS KKR Capital by 23.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock worth $59,566,000 after acquiring an additional 752,956 shares during the period. Gateway Wealth Partners LLC lifted its position in shares of FS KKR Capital by 4,863.0% in the 3rd quarter. Gateway Wealth Partners LLC now owns 723,508 shares of the company’s stock worth $10,802,000 after acquiring an additional 708,930 shares during the period. North Ground Capital lifted its position in shares of FS KKR Capital by 3,743.8% in the 3rd quarter. North Ground Capital now owns 615,000 shares of the company’s stock worth $9,182,000 after acquiring an additional 599,000 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of FS KKR Capital in the 3rd quarter worth approximately $6,702,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

Insider Activity

In related news, insider Daniel Pietrzak bought 5,000 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was acquired at an average cost of $11.25 per share, with a total value of $56,250.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

FSK has been the subject of a number of research reports. Weiss Ratings downgraded FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Truist Financial reduced their price objective on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods reduced their price objective on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Monday, March 2nd. Finally, B. Riley Financial reduced their price objective on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $13.07.

FS KKR Capital Trading Down 1.7%

Shares of FSK opened at $10.55 on Wednesday. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $22.68. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $11.65 and a 200-day simple moving average of $13.84. The stock has a market cap of $2.95 billion, a PE ratio of 351.50 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.The company had revenue of $348.00 million during the quarter, compared to analyst estimates of $361.59 million. During the same period in the previous year, the company posted $0.66 earnings per share. On average, sell-side analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The business also recently announced a special dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a dividend yield of 118.0%. FS KKR Capital’s dividend payout ratio is presently 6,000.00%.

FS KKR Capital 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.