Naviter Wealth LLC Lowers Stake in FS KKR Capital Corp. $FSK

Naviter Wealth LLC trimmed its holdings in FS KKR Capital Corp. (NYSE:FSK) by 31.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 169,000 shares of the company’s stock after selling 76,587 shares during the period. Naviter Wealth LLC’s holdings in FS KKR Capital were worth $2,639,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC raised its stake in FS KKR Capital by 35.9% during the 3rd quarter. Whipplewood Advisors LLC now owns 32,791 shares of the company’s stock valued at $490,000 after acquiring an additional 8,668 shares during the last quarter. Savvy Advisors Inc. grew its stake in shares of FS KKR Capital by 39.0% in the 3rd quarter. Savvy Advisors Inc. now owns 33,281 shares of the company’s stock valued at $497,000 after purchasing an additional 9,337 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of FS KKR Capital by 5.6% in the third quarter. Advisors Asset Management Inc. now owns 385,306 shares of the company’s stock valued at $5,753,000 after purchasing an additional 20,361 shares during the period. MQS Management LLC purchased a new stake in shares of FS KKR Capital during the third quarter worth approximately $236,000. Finally, ProShare Advisors LLC raised its stake in shares of FS KKR Capital by 6.2% during the third quarter. ProShare Advisors LLC now owns 58,211 shares of the company’s stock worth $869,000 after purchasing an additional 3,377 shares during the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSK. Royal Bank Of Canada lowered their price objective on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Friday, November 14th. Keefe, Bruyette & Woods cut their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a report on Monday, November 10th. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Wall Street Zen downgraded FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.50.

FS KKR Capital Price Performance

FS KKR Capital stock opened at $13.34 on Friday. FS KKR Capital Corp. has a 52 week low of $12.65 and a 52 week high of $24.10. The firm’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $15.74. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.