FS KKR Capital Corp. (NYSE: FSK) benefited from significant growth in short interest during the month of June. As of June 15, there was short interest totaling 1,990,000 shares, an increase of 60.5% over the May 31 total of 1,240,000 shares. Currently 1.6% of the company’s shares are sold short. Based on an average daily volume of 640,800 shares, the short-term interest rate is currently 3.1 days.
FSK has been the subject of several analyst reports. TheStreet downgraded FS KKR Capital from a “c” rating to a “b-” rating in a report released on Tuesday, June 1. Hovde Group launched a cover on FS KKR Capital in a report on Friday, March 5. They set an “outperformance” rating and a target price of $ 23.00 for the company. Finally, the Royal Bank of Canada assumed the cover for FS KKR Capital in a report released on Thursday, June 17. They set a “sector performance” rating and a target price of $ 23.00 for the company. Two research analysts rated the stock with a sell rating, six assigned a conservation rating, and two assigned a buy rating to the stock. FS KKR Capital currently has a consensus hold rating and a consensus price target of $ 18.13.
NYSE FSK shares traded up $ 0.24 at midday on Thursday, reaching $ 21.75. The stock had a trading volume of 33,988 shares, compared to its average volume of 1,076,106. The company has a leverage ratio of 1.11, a quick ratio of 3.29, and a current ratio of 3. , 29. The 50-day moving average share price is $ 21.65. FS KKR Capital has a twelve month low of $ 13.20 and a twelve month high of $ 23.41. The stock has a market cap of $ 2.69 billion, a price-to-earnings ratio of 8.24 and a beta of 1.59.
FS KKR Capital (NYSE: FSK) last reported its quarterly results on Sunday, May 9. The company reported earnings per share of $ 0.63 for the quarter, beating the consensus estimate of $ 0.61 by $ 0.02. The company reported revenue of $ 151.00 million for the quarter, compared to the consensus estimate of $ 150.03 million. FS KKR Capital recorded a return on equity of 10.53% and a net margin of 81.34%. On average, equity research analysts expect FS KKR Capital to post EPS of 2.47 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 2. Shareholders of record on Friday, June 11 will receive a dividend of $ 0.60 per share. This represents an annualized dividend of $ 2.40 and a return of 11.03%. The ex-dividend date of this dividend is Thursday, June 10. FS KKR Capital’s dividend payout ratio is currently 87.27%.
Major investors have recently bought and sold shares in the company. Safeguard Investment Advisory Group LLC acquired a new stake in the shares of FS KKR Capital during the 4th quarter for a value of approximately $ 25,000. Stonebridge Capital Advisors LLC acquired a new equity interest in FS KKR Capital during the 1st quarter valued at approximately $ 28,000. Salem Investment Counselors Inc. acquired a new equity interest in FS KKR Capital during the 4th quarter, valued at approximately $ 36,000. US Bancorp DE increased its position in FS KKR Capital shares by 69.3% during the 4th quarter. US Bancorp DE now owns 2,442 shares of the company valued at $ 41,000 after acquiring an additional 1,000 shares during the period. Finally, Ameritas Investment Company LLC acquired a new stake in the shares of FS KKR Capital during the 1st quarter for a value of approximately $ 57,000. Hedge funds and other institutional investors hold 28.49% of the company’s shares.
FS KKR Capital Company Profile
FS KKR Capital Corp. is a business development company specializing in debt securities investments. It seeks to purchase interest in loans through secondary market transactions or directly from target companies as primary market investments. It also seeks to invest in senior senior secured loans, second secured loans and, to a lesser extent, subordinated or mezzanine loans.
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Summer is generally a quiet time in the markets. Institutional investors, in general, take time. In fact, that’s where the phrase “sell in May and go” comes from.
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