FS KKR Capital (NYSE:FSK) Reaches New 12-Month Low – Here’s What Happened

FS KKR Capital Corp. (NYSE:FSK) reached a new 52-week low on Friday . The stock traded as low as $13.63 and last traded at $13.78, with a volume of 2208436 shares trading hands. The stock had previously closed at $13.82.

Analyst Ratings Changes

FSK has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of FS KKR Capital in a report on Thursday, January 22nd. Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 price objective on the stock in a research report on Monday, October 6th. Wall Street Zen cut FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Keefe, Bruyette & Woods lowered their target price on FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.50.

FS KKR Capital Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day moving average price of $14.91 and a 200-day moving average price of $16.36.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $373.00 million during the quarter, compared to analyst estimates of $374.89 million. FS KKR Capital had a return on equity of 5.63% and a net margin of 17.24%.During the same quarter last year, the firm earned $0.74 EPS. Equities research analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael C. Forman acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $15.50 per share, with a total value of $155,000.00. Following the acquisition, the chief executive officer directly owned 24,220 shares in the company, valued at approximately $375,410. The trade was a 70.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Pietrzak bought 10,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $15.15 per share, with a total value of $151,500.00. Following the transaction, the insider directly owned 59,800 shares in the company, valued at approximately $905,970. The trade was a 20.08% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of FS KKR Capital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in FS KKR Capital during the 2nd quarter worth approximately $26,000. Beacon Capital Management Inc. bought a new position in FS KKR Capital during the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in FS KKR Capital in the fourth quarter worth $26,000. FNY Investment Advisers LLC acquired a new position in FS KKR Capital in the fourth quarter worth $28,000. Finally, Eastern Bank increased its stake in FS KKR Capital by 355.6% during the third quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Company 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.