KCAP Financial Inc. (KCAP) Sees Large Volume Increase
KCAP Financial Inc. (NASDAQ:KCAP) shares saw an uptick in trading volume on Monday . 122,176 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 114,257 shares.The stock last traded at $4.16 and had previously closed at $4.13.
A number of research firms have recently weighed in on KCAP. Zacks Investment Research upgraded shares of KCAP Financial from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Tuesday, August 9th. Janney Montgomery Scott restated a “hold” rating on shares of KCAP Financial in a research note on Wednesday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $4.33.
The company has a 50 day moving average of $4.02 and a 200-day moving average of $3.52. The firm’s market cap is $152.39 million.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 28th. Shareholders of record on Thursday, July 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 14.35%. The ex-dividend date was Tuesday, July 5th.
A hedge fund recently raised its stake in KCAP Financial stock. Morgan Stanley raised its stake in shares of KCAP Financial Inc. (NASDAQ:KCAP) by 49.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 288,565 shares of the company’s stock after buying an additional 95,829 shares during the period. Morgan Stanley owned approximately 0.79% of KCAP Financial worth $1,175,000 at the end of the most recent reporting period.
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
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