FS KKR Capital (NYSE:FSK) Sets New 12-Month Low – Here’s Why

FS KKR Capital Corp. (NYSE:FSK)’s stock price reached a new 52-week low on Friday . The stock traded as low as $12.65 and last traded at $12.81, with a volume of 324483 shares changing hands. The stock had previously closed at $12.75.

Analyst Ratings Changes

A number of analysts have recently issued reports on FSK shares. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada dropped their price objective on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lowered their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.50.

FS KKR Capital Trading Up 1.0%

The company’s 50 day moving average price is $14.62 and its 200 day moving average price is $16.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $373.00 million during the quarter, compared to analyst estimates of $374.89 million. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. During the same quarter in the previous year, the business earned $0.74 EPS. Equities research analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at FS KKR Capital

In related news, CEO Michael C. Forman acquired 10,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average price of $15.50 per share, with a total value of $155,000.00. Following the acquisition, the chief executive officer owned 24,220 shares in the company, valued at approximately $375,410. The trade was a 70.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On FS KKR Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after purchasing an additional 7,726,974 shares during the period. CCLA Investment Management bought a new position in FS KKR Capital in the 2nd quarter worth approximately $33,463,000. Balyasny Asset Management L.P. acquired a new position in shares of FS KKR Capital during the third quarter worth approximately $21,917,000. Van ECK Associates Corp boosted its position in shares of FS KKR Capital by 23.3% in the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock valued at $59,566,000 after acquiring an additional 752,956 shares during the period. Finally, Gateway Wealth Partners LLC boosted its position in shares of FS KKR Capital by 4,863.0% in the third quarter. Gateway Wealth Partners LLC now owns 723,508 shares of the company’s stock valued at $10,802,000 after acquiring an additional 708,930 shares during the period. 36.26% of the stock is owned by institutional investors and hedge funds.

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.