Fifth Street Finance Corp. (FSC) To Go Ex-Dividend on October 12th
Fifth Street Finance Corp. (NASDAQ:FSC) announced a monthly dividend on Wednesday, August 10th. Shareholders of record on Friday, October 14th will be paid a dividend of 0.06 per share on Monday, October 31st. This represents a $0.72 annualized dividend and a yield of 12.39%. The ex-dividend date is Wednesday, October 12th.
Shares of Fifth Street Finance Corp. (NASDAQ:FSC) opened at 5.81 on Friday. The firm’s 50-day moving average price is $5.93 and its 200 day moving average price is $5.40. Fifth Street Finance Corp. has a 52 week low of $4.40 and a 52 week high of $6.53.
Fifth Street Finance Corp. (NASDAQ:FSC) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Fifth Street Finance Corp. had a positive return on equity of 8.78% and a negative net margin of 25.95%. On average, equities research analysts forecast that Fifth Street Finance Corp. will post $0.73 EPS for the current fiscal year.
FSC has been the subject of several recent research reports. Zacks Investment Research lowered Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Deutsche Bank AG cut their target price on Fifth Street Finance Corp. from $6.75 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, August 16th. Finally, National Securities restated a “neutral” rating and set a $6.00 target price on shares of Fifth Street Finance Corp. in a report on Thursday, August 11th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.41.
In other news, Director James Castro-Blanco bought 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were acquired at an average cost of $6.16 per share, with a total value of $50,820.00. Following the completion of the transaction, the director now directly owns 12,300 shares in the company, valued at $75,768. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FSC. BlackRock Group LTD increased its stake in Fifth Street Finance Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 806,024 shares of the company’s stock worth $3,909,000 after buying an additional 102,503 shares during the last quarter. Guggenheim Capital LLC increased its stake in Fifth Street Finance Corp. by 7.6% in the second quarter. Guggenheim Capital LLC now owns 423,346 shares of the company’s stock worth $2,053,000 after buying an additional 29,811 shares during the last quarter. Nuveen Fund Advisors LLC bought a new stake in Fifth Street Finance Corp. during the second quarter worth $1,547,000. Citadel Advisors LLC increased its stake in Fifth Street Finance Corp. by 222.5% in the second quarter. Citadel Advisors LLC now owns 264,641 shares of the company’s stock worth $1,284,000 after buying an additional 182,584 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in Fifth Street Finance Corp. by 1.8% in the second quarter. Paloma Partners Management Co now owns 225,521 shares of the company’s stock worth $1,094,000 after buying an additional 3,932 shares during the last quarter. 32.18% of the stock is currently owned by institutional investors.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from the debt investments and capital appreciation from the equity investments.
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