Transcend Capital Advisors LLC Sells 333,395 Shares of FS KKR Capital Corp. $FSK

Transcend Capital Advisors LLC reduced its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 25.3% in the third quarter, Holdings Channel reports. The institutional investor owned 983,550 shares of the company’s stock after selling 333,395 shares during the period. FS KKR Capital comprises about 1.0% of Transcend Capital Advisors LLC’s portfolio, making the stock its 15th biggest holding. Transcend Capital Advisors LLC’s holdings in FS KKR Capital were worth $14,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. CCLA Investment Management purchased a new stake in shares of FS KKR Capital in the 2nd quarter worth $33,463,000. North Ground Capital lifted its position in FS KKR Capital by 3,743.8% during the third quarter. North Ground Capital now owns 615,000 shares of the company’s stock valued at $9,182,000 after purchasing an additional 599,000 shares in the last quarter. Generali Asset Management SPA SGR grew its holdings in FS KKR Capital by 21.7% during the second quarter. Generali Asset Management SPA SGR now owns 2,485,265 shares of the company’s stock valued at $51,569,000 after purchasing an additional 442,374 shares during the period. HRT Financial LP grew its holdings in FS KKR Capital by 1,687.7% during the second quarter. HRT Financial LP now owns 329,181 shares of the company’s stock valued at $6,830,000 after purchasing an additional 310,767 shares during the period. Finally, Campbell Capital Management Inc. purchased a new stake in FS KKR Capital in the second quarter worth about $5,516,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Price Performance

Shares of FSK opened at $13.78 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. FS KKR Capital Corp. has a 1 year low of $13.63 and a 1 year high of $24.10. The company has a 50 day simple moving average of $14.91 and a two-hundred day simple moving average of $16.32.

FS KKR Capital (NYSE:FSK) last released its earnings results on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. The firm had revenue of $373.00 million for the quarter, compared to the consensus estimate of $374.89 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

Insider Buying and Selling at FS KKR Capital

In other news, insider Daniel Pietrzak bought 10,000 shares of FS KKR Capital stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.15 per share, with a total value of $151,500.00. Following the completion of the acquisition, the insider owned 59,800 shares of the company’s stock, valued at $905,970. This trade represents a 20.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Forman bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $155,000.00. Following the completion of the transaction, the chief executive officer directly owned 24,220 shares of the company’s stock, valued at $375,410. This represents a 70.32% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FSK has been the topic of a number of analyst reports. 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. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada lowered their price target on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, FS KKR Capital currently has an average rating of “Hold” and an average price target of $17.50.

About FS KKR Capital

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.