Fifth Street Senior Floating Rate Corp. (FSFR) Sees Large Volume Increase
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) shares saw unusually-high trading volume on Thursday . Approximately 339,301 shares traded hands during mid-day 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.
FSFR has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Fifth Street Senior Floating Rate Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 16th. Deutsche Bank AG dropped their target price on shares of 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 shares of Fifth Street Senior Floating Rate Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One 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. currently has an average rating of “Hold” and an average target price of $9.33.
The firm has a 50 day moving average price of $8.52 and a 200 day moving average price of $7.97.
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last issued its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.02. Equities research analysts expect that Fifth Street Senior Floating Rate Corp. will post $0.87 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.90 annualized dividend and a yield of 10.16%.
In related news, major shareholder Leonard M. Tannenbaum acquired 1,000,000 shares of the stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $8.47 per share, for a total transaction of $8,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Leonard M. Tannenbaum acquired 11,599 shares of the stock in a transaction dated Monday, August 22nd. The stock was bought at an average price of $8.50 per share, for a total transaction of $98,591.50. Following the purchase, the insider now owns 4,051,822 shares of the company’s stock, valued at approximately $34,440,487. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Fifth Street Senior Floating Rate Corp. stock. Morgan Stanley increased its stake in Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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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