FS KKR Capital (NYSE:FSK) Reaches New 52-Week High – Here’s Why

Shares of FS KKR Capital Corp. (NYSE:FSK) reached a new 52-week high on Wednesday . The stock traded as high as $23.02 and last traded at $23.01, with a volume of 1216869 shares trading hands. The stock had previously closed at $22.79.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of FS KKR Capital in a report on Monday, December 2nd. B. Riley downgraded shares of FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price objective on the stock. in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on shares of FS KKR Capital from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.25.

FS KKR Capital Trading Up 0.9 %

The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average price is $21.77 and its two-hundred day moving average price is $20.69. The firm has a market cap of $6.44 billion, a PE ratio of 12.24 and a beta of 1.24.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. The business had revenue of $441.00 million for the quarter, compared to analysts’ expectations of $423.58 million. During the same period in the prior year, the company posted $0.80 EPS. As a group, sell-side analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Pietrzak purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average cost of $21.31 per share, with a total value of $106,550.00. Following the completion of the acquisition, the insider now directly owns 49,800 shares in the company, valued at $1,061,238. The trade was a 11.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 11,500 shares of company stock worth $248,910 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On FS KKR Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. McIlrath & Eck LLC grew its holdings in FS KKR Capital by 47.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,096 shares of the company’s stock valued at $41,000 after buying an additional 675 shares during the period. FNY Investment Advisers LLC purchased a new stake in FS KKR Capital in the fourth quarter valued at approximately $52,000. Thurston Springer Miller Herd & Titak Inc. increased its position in FS KKR Capital by 122.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,760 shares of the company’s stock worth $60,000 after purchasing an additional 1,520 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in FS KKR Capital by 164.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 6,016 shares of the company’s stock worth $119,000 after purchasing an additional 3,744 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of FS KKR Capital by 14.9% in the 3rd quarter. Sound Income Strategies LLC now owns 9,885 shares of the company’s stock valued at $195,000 after purchasing an additional 1,280 shares during the last quarter. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.