Alpine Global Management LLC Purchases New Holdings in FS KKR Capital Corp. $FSK

Alpine Global Management LLC purchased a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,922 shares of the company’s stock, valued at approximately $1,477,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of FS KKR Capital by 23.3% during the 3rd 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. UBS Group AG increased its position in shares of FS KKR Capital by 12.1% in the third quarter. UBS Group AG now owns 3,300,094 shares of the company’s stock worth $49,270,000 after purchasing an additional 355,745 shares during the period. Generali Asset Management SPA SGR raised its stake in FS KKR Capital by 2.5% in the third quarter. Generali Asset Management SPA SGR now owns 2,546,371 shares of the company’s stock valued at $38,017,000 after purchasing an additional 61,106 shares in the last quarter. Legal & General Group Plc lifted its position in FS KKR Capital by 3.2% during the second quarter. Legal & General Group Plc now owns 2,147,309 shares of the company’s stock worth $44,546,000 after purchasing an additional 66,943 shares during the period. Finally, CCLA Investment Management lifted its position in FS KKR Capital by 5.6% during the third quarter. CCLA Investment Management now owns 1,703,635 shares of the company’s stock worth $25,435,000 after purchasing an additional 90,167 shares during the period. Institutional investors own 36.26% of the company’s stock.

Analysts Set New Price Targets

FSK has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Truist Financial dropped their price target on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings downgraded FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Finally, B. Riley Financial lowered their target price on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $13.36.

FS KKR Capital Trading Up 1.1%

Shares of FSK stock opened at $10.26 on Wednesday. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. The firm has a market cap of $2.87 billion, a P/E ratio of 342.03 and a beta of 0.86. The company has a 50 day moving average of $12.92 and a 200-day moving average of $14.60. FS KKR Capital Corp. has a 12-month low of $10.04 and a 12-month high of $22.68.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. The firm had revenue of $348.00 million for the quarter, compared to the consensus estimate of $361.59 million. During the same period last year, the company posted $0.66 earnings per share. Sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Announces Dividend

The company also recently declared a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 1,754.0%. FS KKR Capital’s dividend payout ratio is presently 6,000.00%.

Insider Buying and Selling at FS KKR Capital

In other news, insider Daniel Pietrzak acquired 5,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the purchase, the insider owned 64,800 shares of the company’s stock, valued at approximately $729,000. The trade was a 8.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

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.