Fifth Street Senior Floating Rate Corp. (FSFR) Sees Large Volume Increase
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) shares saw strong trading volume on Thursday . 339,301 shares traded hands during trading, an increase of 56% from the previous session’s volume of 217,124 shares.The stock last traded at $8.91 and had previously closed at $8.94.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Fifth Street Senior Floating Rate Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. TheStreet upgraded Fifth Street Senior Floating Rate Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG cut their price objective on Fifth Street Senior Floating Rate Corp. from $10.30 to $10.00 and set a “buy” rating for the company in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Fifth Street Senior Floating Rate Corp. has a consensus rating of “Hold” and a consensus price target of $9.33.
The stock’s 50 day moving average price is $8.50 and its 200-day moving average price is $7.97.
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last posted its earnings results on Tuesday, August 9th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. On average, equities research analysts predict that Fifth Street Senior Floating Rate Corp. will post $0.87 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.075 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 10.17%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other news, Director Richard W. Cohen bought 3,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average price of $8.54 per share, for a total transaction of $25,620.00. Following the completion of the purchase, the director now owns 43 shares of the company’s stock, valued at approximately $367.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Leonard M. Tannenbaum bought 400,098 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was purchased at an average price of $8.67 per share, with a total value of $3,468,849.66. Following the purchase, the insider now directly owns 4,051,822 shares of the company’s stock, valued at approximately $35,129,296.74. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Fifth Street Senior Floating Rate Corp. stock. Morgan Stanley boosted 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 Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.
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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