Diversified Enterprises LLC Makes New Investment in FS KKR Capital Corp. $FSK

Diversified Enterprises LLC acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSK) in the 4th quarter, HoldingsChannel reports. The fund acquired 318,098 shares of the company’s stock, valued at approximately $4,711,000.

Several other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in FS KKR Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock worth $59,566,000 after buying an additional 752,956 shares during the period. UBS Group AG grew its stake in FS KKR Capital by 12.1% during the third quarter. UBS Group AG now owns 3,300,094 shares of the company’s stock worth $49,270,000 after buying an additional 355,745 shares during the period. Generali Asset Management SPA SGR boosted its stake in shares of FS KKR Capital by 2.5% in the third quarter. Generali Asset Management SPA SGR now owns 2,546,371 shares of the company’s stock valued at $38,017,000 after purchasing an additional 61,106 shares during the period. CCLA Investment Management boosted its stake in shares of FS KKR Capital by 1.0% in the fourth quarter. CCLA Investment Management now owns 1,720,929 shares of the company’s stock valued at $25,469,000 after purchasing an additional 17,294 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of FS KKR Capital in the third quarter valued at $21,917,000. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Daniel Pietrzak acquired 5,000 shares of FS KKR Capital stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the purchase, the insider directly owned 64,800 shares of the company’s stock, valued at $729,000. The trade was a 8.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

FS KKR Capital Trading Down 4.1%

NYSE FSK opened at $10.58 on Friday. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $22.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 3.05. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 352.50 and a beta of 0.83. The company’s fifty day moving average price is $11.01 and its two-hundred day moving average price is $13.50.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $361.59 million. During the same quarter last year, the company earned $0.66 earnings per share. As a group, research analysts predict that FS KKR Capital Corp. will post 1.7 earnings per share for the current fiscal year.

FS KKR Capital Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, April 2nd. Shareholders of record on Wednesday, March 18th were paid a dividend of $0.03 per share. This represents a yield of 118.0%. The ex-dividend date was Wednesday, March 18th. FS KKR Capital’s dividend payout ratio is 6,000.00%.

Wall Street Analyst Weigh In

FSK has been the subject of several analyst reports. Royal Bank Of Canada decreased their target price on shares of FS KKR Capital from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Wells Fargo & Company decreased their target price on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. B. Riley Financial decreased their target price on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings downgraded shares of FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $12.50.

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.