KCAP Financial Inc. (KCAP) Downgraded by Zacks Investment Research to “Hold”
KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “
Separately, TheStreet raised shares of KCAP Financial from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $4.50.
KCAP Financial (NASDAQ:KCAP) opened at 4.72 on Wednesday. The company has a 50 day moving average of $4.44 and a 200 day moving average of $3.88. KCAP Financial has a 52 week low of $2.62 and a 52 week high of $5.48. The stock’s market capitalization is $173.32 million.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.60 annualized dividend and a yield of 12.71%. KCAP Financial’s payout ratio is -71.43%.
A number of hedge funds and other institutional investors have recently bought and sold shares of KCAP. UBS Group AG increased its position in KCAP Financial by 17.1% in the first quarter. UBS Group AG now owns 723,108 shares of the company’s stock valued at $2,603,000 after buying an additional 105,633 shares during the last quarter. Diversified Trust Co increased its position in KCAP Financial by 4.0% in the second quarter. Diversified Trust Co now owns 194,003 shares of the company’s stock valued at $760,000 after buying an additional 7,439 shares during the last quarter. Franklin Resources Inc. increased its position in KCAP Financial by 4.5% in the first quarter. Franklin Resources Inc. now owns 734,225 shares of the company’s stock worth $2,643,000 after buying an additional 31,647 shares in the last quarter. KCG Holdings Inc. purchased a new position in KCAP Financial during the second quarter worth approximately $105,000. Finally, Nuveen Fund Advisors LLC purchased a new position in KCAP Financial during the second quarter worth approximately $366,000. Institutional investors and hedge funds own 15.54% of the company’s stock.
About KCAP Financial
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KCAP Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KCAP Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.