Fifth Street Finance Corp. (FSC) Rating Lowered to Sell at Zacks Investment Research

Fifth Street Finance Corp. (NASDAQ:FSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and capital appreciation from its equity investments. “

FSC has been the subject of a number of other research reports. ValuEngine raised Fifth Street Finance Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub raised Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. National Securities upgraded Fifth Street Finance Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, July 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $4.75 price objective on shares of Fifth Street Finance Corp. in a research note on Friday, June 30th. Finally, TheStreet lowered Fifth Street Finance Corp. from a “c-” rating to a “d+” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.54.

Shares of Fifth Street Finance Corp. (NASDAQ FSC) opened at 5.55 on Tuesday. The company’s 50 day moving average price is $5.45 and its 200 day moving average price is $4.83. Fifth Street Finance Corp. has a 52-week low of $3.90 and a 52-week high of $5.91.

Fifth Street Finance Corp. (NASDAQ:FSC) last released its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $43.35 million. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. Equities analysts expect that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.

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In other Fifth Street Finance Corp. news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $5.43, for a total transaction of $108,600.00. Following the completion of the sale, the chief executive officer now directly owns 35,968 shares in the company, valued at approximately $195,306.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Freestone Capital Holdings LLC purchased a new stake in shares of Fifth Street Finance Corp. in the second quarter valued at approximately $538,000. Oxford Asset Management purchased a new stake in shares of Fifth Street Finance Corp. in the first quarter valued at approximately $303,000. Comerica Bank purchased a new stake in shares of Fifth Street Finance Corp. in the first quarter valued at approximately $156,000. Kennedy Capital Management Inc. purchased a new stake in shares of Fifth Street Finance Corp. in the second quarter valued at approximately $6,289,000. Finally, CIBC World Markets Inc. grew its position in shares of Fifth Street Finance Corp. by 144.3% in the second quarter. CIBC World Markets Inc. now owns 58,917 shares of the credit services provider’s stock valued at $286,000 after purchasing an additional 34,804 shares in the last quarter. Institutional investors and hedge funds own 32.76% of the company’s stock.

Fifth Street Finance Corp. Company Profile

Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.

Analyst Recommendations for Fifth Street Finance Corp. (NASDAQ:FSC)

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