Fifth Street Senior Floating Rate Corp. (FSFR) Sees Large Volume Increase
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) saw strong trading volume on Thursday . 132,301 shares traded hands during mid-day trading, an increase of 74% from the previous session’s volume of 75,873 shares.The stock last traded at $8.41 and had previously closed at $8.40.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Fifth Street Senior Floating Rate Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 16th. Deutsche Bank AG lowered their price objective on Fifth Street Senior Floating Rate Corp. from $10.30 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 12th. Finally, TheStreet raised Fifth Street Senior Floating Rate Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.33.
The stock’s 50 day moving average price is $8.19 and its 200-day moving average price is $7.78.
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last issued its earnings results on Tuesday, May 10th. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.04. Analysts forecast that Fifth Street Senior Floating Rate Corp. will post $0.90 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th will be paid a $0.075 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 10.58%.
A hedge fund recently raised its stake in Fifth Street Senior Floating Rate Corp. stock. Morgan Stanley increased its position in shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,408,209 shares of the investment management company’s stock after buying an additional 25,690 shares during the period. Morgan Stanley’s holdings in Fifth Street Senior Floating Rate Corp. were worth $12,069,000 as of its most recent filing with the SEC.
Fifth Street Senior Floating Rate Corp. is the United States-based closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return by generating income from its debt investments while seeking to preserve its capital. The Company invests in senior secured loans, including first lien, unitranche and second lien debt instruments.
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