115,000 Shares in FS KKR Capital Corp. $FSK Purchased by Absolute Gestao de Investimentos Ltda.

Absolute Gestao de Investimentos Ltda. purchased a new stake in FS KKR Capital Corp. (NYSE:FSK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 115,000 shares of the company’s stock, valued at approximately $1,171,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in FS KKR Capital in the 4th quarter valued at $26,000. Jessup Wealth Management Inc acquired a new position in shares of FS KKR Capital during the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of FS KKR Capital during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of FS KKR Capital during the 4th quarter worth approximately $31,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of FS KKR Capital in the 4th quarter valued at approximately $31,000. 36.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on FSK shares. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods dropped their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Wells Fargo & Company lowered their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $10.58.

FS KKR Capital Stock Performance

Shares of FS KKR Capital stock opened at $10.62 on Friday. The company has a 50 day moving average of $10.68 and a 200-day moving average of $11.50. The company has a market cap of $2.98 billion, a PE ratio of -5.39 and a beta of 0.82. FS KKR Capital Corp. has a 1-year low of $9.72 and a 1-year high of $22.30. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings results 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). The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were given a $0.42 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.68 annualized dividend and a yield of 15.8%. FS KKR Capital’s dividend payout ratio (DPR) 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.