Zacks Investment Research upgraded shares of FS Investment (NYSE:FSIC) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “
FSIC has been the subject of several other research reports. ValuEngine upgraded shares of FS Investment from a hold rating to a buy rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods set a $9.00 target price on shares of FS Investment and gave the stock a hold rating in a research report on Thursday, October 5th. TheStreet cut shares of FS Investment from a b- rating to a c+ rating in a report on Thursday, January 11th. National Securities reiterated a neutral rating and issued a $10.00 price objective on shares of FS Investment in a report on Monday, November 13th. Finally, BidaskClub cut shares of FS Investment from a sell rating to a strong sell rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $9.56.
FS Investment (NYSE:FSIC) last posted its earnings results on Thursday, November 9th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. FS Investment had a net margin of 52.49% and a return on equity of 8.97%. The firm had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $97.03 million. equities research analysts anticipate that FS Investment will post 0.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 9.93%. The ex-dividend date was Tuesday, December 19th. FS Investment’s payout ratio is 85.39%.
In other FS Investment news, insider Michael John Kelly bought 10,000 shares of FS Investment stock in a transaction that occurred on Thursday, December 28th. The stock was purchased at an average cost of $7.49 per share, for a total transaction of $74,900.00. Following the completion of the acquisition, the insider now owns 35,000 shares of the company’s stock, valued at approximately $262,150. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Hagan bought 30,000 shares of FS Investment stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $7.84 per share, with a total value of $235,200.00. Following the completion of the acquisition, the director now directly owns 70,000 shares of the company’s stock, valued at approximately $548,800. The disclosure for this purchase can be found here. Insiders have purchased 107,512 shares of company stock valued at $816,937 over the last 90 days. 1.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. First Citizens Bank & Trust Co. purchased a new stake in shares of FS Investment in the 4th quarter valued at approximately $130,000. Oak Point Wealth Management purchased a new position in FS Investment during the 4th quarter valued at about $2,461,000. Belpointe Asset Management LLC purchased a new position in FS Investment during the 3rd quarter valued at about $132,000. Cetera Investment Advisers grew its holdings in FS Investment by 886.3% during the 3rd quarter. Cetera Investment Advisers now owns 152,702 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 137,220 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in FS Investment by 231.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 32,206 shares of the financial services provider’s stock valued at $272,000 after buying an additional 22,481 shares in the last quarter. Institutional investors and hedge funds own 32.43% of the company’s stock.
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FS Investment Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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