Naviter Wealth LLC Cuts Stake in FS KKR Capital Corp. $FSK

Naviter Wealth LLC lessened its holdings in FS KKR Capital Corp. (NYSE:FSK) by 31.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,000 shares of the company’s stock after selling 76,587 shares during the period. Naviter Wealth LLC owned approximately 0.06% of FS KKR Capital worth $2,639,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Atlantic Union Bankshares Corp purchased a new stake in FS KKR Capital during the 2nd quarter worth about $26,000. Beacon Capital Management Inc. purchased a new stake in shares of FS KKR Capital during the second quarter worth approximately $26,000. Eastern Bank raised its holdings in FS KKR Capital by 355.6% in the third quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,561 shares in the last quarter. Key Financial Inc acquired a new position in FS KKR Capital during the 2nd quarter worth approximately $54,000. Finally, Quaker Wealth Management LLC increased its position in shares of FS KKR Capital by 201.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 3,502 shares of the company’s stock valued at $73,000 after purchasing an additional 6,953 shares during the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FSK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FS KKR Capital in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lowered their price objective on FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a research report on Monday, November 10th. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada dropped 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 research note on Friday, November 14th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.

FS KKR Capital Price Performance

Shares of NYSE FSK opened at $13.34 on Friday. The business has a 50-day moving average price of $14.40 and a 200 day moving average price of $15.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. FS KKR Capital Corp. has a 52-week low of $12.65 and a 52-week high of $24.10.

FS KKR Capital 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.