Fifth Street Asset Management Inc. (FSAM) Announces Earnings Results

Fifth Street Asset Management Inc. (NASDAQ:FSAM) released its earnings results on Monday, May 15th. The asset manager reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.02, Zacks reports. The firm had revenue of $15.64 million during the quarter. Fifth Street Asset Management had a net margin of 1.55% and a negative return on equity of 527.80%.

Shares of Fifth Street Asset Management (NASDAQ FSAM) remained flat at $3.45 during trading on Friday. 50,677 shares of the stock traded hands. The firm has a market cap of $53.74 million, a price-to-earnings ratio of 23.15 and a beta of 0.42. The stock’s 50-day moving average is $4.05 and its 200-day moving average is $5.43. Fifth Street Asset Management has a 1-year low of $3.45 and a 1-year high of $8.45.

Earnings History for Fifth Street Asset Management (NASDAQ:FSAM)

Separately, ValuEngine downgraded Fifth Street Asset Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 18th.

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Fifth Street Asset Management by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 25,474 shares of the asset manager’s stock worth $117,000 after buying an additional 302 shares during the period. Geode Capital Management LLC raised its stake in shares of Fifth Street Asset Management by 7.6% in the first quarter. Geode Capital Management LLC now owns 42,578 shares of the asset manager’s stock worth $195,000 after buying an additional 2,996 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Fifth Street Asset Management by 322.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 51,197 shares of the asset manager’s stock worth $343,000 after buying an additional 39,067 shares during the period. State Street Corp raised its stake in shares of Fifth Street Asset Management by 8.8% in the fourth quarter. State Street Corp now owns 95,801 shares of the asset manager’s stock worth $641,000 after buying an additional 7,740 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Fifth Street Asset Management by 4.3% in the first quarter. Vanguard Group Inc. now owns 278,260 shares of the asset manager’s stock worth $1,280,000 after buying an additional 11,561 shares during the period. Institutional investors and hedge funds own 6.38% of the company’s stock.

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About Fifth Street Asset Management

Fifth Street Asset Management Inc is an alternative asset manager. The Company provides asset management services to its investment funds (the Fifth Street Funds or the funds), which consist of Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR), both publicly-traded business development companies (together, the BDCs).

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