Independent Advisor Alliance Lowers Stock Holdings in FS KKR Capital Corp. $FSK

Independent Advisor Alliance cut its stake in shares of FS KKR Capital Corp. (NYSE:FSK) by 21.5% during the third quarter, HoldingsChannel.com reports. The fund owned 194,686 shares of the company’s stock after selling 53,320 shares during the quarter. Independent Advisor Alliance’s holdings in FS KKR Capital were worth $2,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new position in FS KKR Capital in the second quarter worth approximately $26,000. Beacon Capital Management Inc. purchased a new stake in shares of FS KKR Capital in the 2nd quarter worth $26,000. Eastern Bank lifted its holdings in shares of FS KKR Capital by 355.6% in the 3rd quarter. Eastern Bank now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,561 shares during the period. Key Financial Inc purchased a new position in shares of FS KKR Capital during the second quarter valued at $54,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of FS KKR Capital in the second quarter valued at about $56,000. Institutional investors own 36.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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. Wells Fargo & Company upgraded shares of 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 note on Monday, October 6th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c-)” rating on shares of FS KKR Capital in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada cut their price target on 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. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, FS KKR Capital presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Insider Buying and Selling at FS KKR Capital

In other FS KKR Capital news, CEO Michael C. Forman bought 10,000 shares of FS KKR Capital stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average cost of $15.50 per share, with a total value of $155,000.00. Following the transaction, the chief executive officer directly owned 24,220 shares of the company’s stock, valued at approximately $375,410. This represents a 70.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Pietrzak purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $15.15 per share, with a total value of $151,500.00. Following the completion of the purchase, the insider owned 59,800 shares of the company’s stock, valued at $905,970. The trade was a 20.08% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.25% of the stock is owned by insiders.

FS KKR Capital Stock Performance

NYSE:FSK opened at $13.78 on Monday. FS KKR Capital Corp. has a 52 week low of $13.63 and a 52 week high of $24.10. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a 50 day moving average of $14.91 and a 200 day moving average of $16.28.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.57 earnings per share (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 business had revenue of $373.00 million for the quarter, compared to analyst estimates of $374.89 million. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, research analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

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.