FS Investment (FSIC) Rating Lowered to C+ at TheStreet

TheStreet downgraded shares of FS Investment (NYSE:FSIC) from a b- rating to a c+ rating in a report published on Thursday.

A number of other brokerages have also recently issued reports on FSIC. Zacks Investment Research raised FS Investment from a hold rating to a strong-buy rating and set a $10.00 target price for the company in a report on Tuesday, October 10th. National Securities raised FS Investment from a neutral rating to a buy rating in a report on Friday, December 15th. ValuEngine raised FS Investment from a hold rating to a buy rating in a report on Friday, December 1st. BidaskClub raised FS Investment from a strong sell rating to a sell rating in a report on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the stock a hold rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. FS Investment currently has an average rating of Hold and a consensus target price of $9.56.

FS Investment (NYSE FSIC) opened at $7.70 on Thursday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.74. FS Investment has a fifty-two week low of $7.32 and a fifty-two week high of $10.80. The company has a market capitalization of $1,890.00, a price-to-earnings ratio of 8.65, a PEG ratio of 3.21 and a beta of 0.94.

FS Investment (NYSE:FSIC) last posted its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. The company had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $97.03 million. research analysts expect that FS Investment will post 0.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 9.87%. FS Investment’s payout ratio is presently 85.39%.

In related news, insider Michael John Kelly purchased 10,000 shares of FS Investment stock in a transaction on Friday, December 28th. The shares were purchased at an average price of $7.49 per share, for a total transaction of $74,900.00. Following the transaction, the insider now owns 35,000 shares of the company’s stock, valued at approximately $262,150. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael C. Forman purchased 16,531 shares of FS Investment stock in a transaction on Thursday, December 28th. The stock was bought at an average price of $7.46 per share, for a total transaction of $123,321.26. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 107,512 shares of company stock valued at $816,937. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. bought a new stake in shares of FS Investment in the 4th quarter valued at about $130,000. Oak Point Wealth Management bought a new stake in shares of FS Investment in the 4th quarter valued at about $2,461,000. Belpointe Asset Management LLC bought a new stake in shares of FS Investment in the 3rd quarter valued at about $132,000. Cetera Investment Advisers grew its position in shares of FS Investment by 886.3% in the 3rd quarter. Cetera Investment Advisers now owns 152,702 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 137,220 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in shares of FS Investment by 231.2% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 32,206 shares of the financial services provider’s stock valued at $272,000 after buying an additional 22,481 shares during the last quarter. Hedge funds and other institutional investors own 32.36% of the company’s stock.

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FS Investment Company Profile

FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.

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