KCAP Financial (KCAP) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of KCAP Financial (NASDAQ:KCAP) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods reissued a hold rating and issued a $3.50 target price on shares of KCAP Financial in a report on Tuesday, October 24th. Ladenburg Thalmann Financial Services started coverage on shares of KCAP Financial in a report on Monday, September 25th. They issued a neutral rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $7.75.

KCAP Financial (NASDAQ KCAP) traded up $0.01 during mid-day trading on Tuesday, hitting $3.38. 79,135 shares of the company were exchanged, compared to its average volume of 174,104. KCAP Financial has a 1 year low of $3.30 and a 1 year high of $4.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $125.69, a price-to-earnings ratio of 56.33 and a beta of 1.71.

KCAP Financial (NASDAQ:KCAP) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). KCAP Financial had a net margin of 7.78% and a return on equity of 6.54%. The business had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $6.80 million. research analysts anticipate that KCAP Financial will post 0.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Friday, January 5th will be given a $0.10 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.40 dividend on an annualized basis and a yield of 11.83%. KCAP Financial’s dividend payout ratio is presently 666.67%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in KCAP Financial in the third quarter worth $125,000. Citadel Advisors LLC lifted its position in KCAP Financial by 55.8% in the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock worth $152,000 after buying an additional 14,879 shares during the last quarter. Legal & General Group Plc lifted its position in KCAP Financial by 8.6% in the second quarter. Legal & General Group Plc now owns 92,703 shares of the financial services provider’s stock worth $328,000 after buying an additional 7,303 shares during the last quarter. Finally, Ares Management LLC lifted its position in KCAP Financial by 3.5% in the second quarter. Ares Management LLC now owns 160,322 shares of the financial services provider’s stock worth $565,000 after buying an additional 5,487 shares during the last quarter. Institutional investors own 20.22% of the company’s stock.

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About KCAP Financial

KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).

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