Private Advisor Group LLC Sells 54,655 Shares of FS KKR Capital Corp. $FSK

Private Advisor Group LLC trimmed its stake in FS KKR Capital Corp. (NYSE:FSK) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,365 shares of the company’s stock after selling 54,655 shares during the period. Private Advisor Group LLC’s holdings in FS KKR Capital were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Bison Wealth LLC lifted its holdings in shares of FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock worth $476,000 after buying an additional 720 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of FS KKR Capital by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock valued at $5,612,000 after acquiring an additional 32,258 shares during the period. Empowered Funds LLC grew its stake in FS KKR Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after purchasing an additional 15,596 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of FS KKR Capital in the 2nd quarter worth approximately $1,806,000. Finally, Nebula Research & Development LLC raised its stake in shares of FS KKR Capital by 83.1% during the 2nd quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock worth $420,000 after acquiring an additional 9,183 shares in the last quarter. 36.26% of the stock is currently owned by institutional investors.

FS KKR Capital Stock Up 1.1%

FSK opened at $10.44 on Wednesday. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The company has a fifty day moving average of $10.72 and a two-hundred day moving average of $11.84. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -5.30 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. FS KKR Capital’s revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. On average, research analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 16.1%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s payout ratio is presently -85.28%.

Analysts Set New Price Targets

Several research firms have issued reports on FSK. Keefe, Bruyette & Woods cut their price target on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company dropped their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, FS KKR Capital presently has an average rating of “Reduce” and a consensus target price of $10.58.

FS KKR Capital 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.