Private Advisor Group LLC Sells 54,655 Shares of FS KKR Capital Corp. $FSK

Private Advisor Group LLC lowered its stake in FS KKR Capital Corp. (NYSE:FSK) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 441,365 shares of the company’s stock after selling 54,655 shares during the quarter. Private Advisor Group LLC owned about 0.16% of FS KKR Capital worth $4,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of FS KKR Capital in the fourth quarter worth about $26,000. Jessup Wealth Management Inc bought a new position in FS KKR Capital during the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in FS KKR Capital during the 4th quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in FS KKR Capital in the 4th quarter worth approximately $31,000. Finally, Basepoint Wealth LLC bought a new stake in FS KKR Capital in the 4th quarter worth approximately $31,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Trading Up 1.1%

Shares of FSK opened at $10.44 on Wednesday. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $22.68. The company has a market cap of $2.93 billion, a P/E ratio of -5.30 and a beta of 0.82. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. The company’s fifty day simple moving average is $10.72 and its 200-day simple moving average is $11.84.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $316.81 million. FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.FS KKR Capital’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, analysts expect that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 16.1%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is presently -85.28%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSK. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their price objective on shares of FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 price objective on shares of FS KKR Capital in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their target price on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.58.

FS KKR Capital Company 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.