FS KKR Capital Corp. (NYSE:FSK) Sees Significant Increase in Short Interest

FS KKR Capital Corp. (NYSE:FSK) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,330,000 shares, an increase of 6.7% from the August 31st total of 4,060,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

FSK has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on FS KKR Capital from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $20.00 price objective on shares of FS KKR Capital in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.06.

Insider Activity

In other news, insider Daniel Pietrzak purchased 5,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $19.21 per share, for a total transaction of $96,050.00. Following the transaction, the insider now owns 44,800 shares in the company, valued at $860,608. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $19.21 per share, for a total transaction of $96,050.00. Following the completion of the acquisition, the insider now owns 44,800 shares of the company’s stock, valued at approximately $860,608. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael C. Forman sold 195,139 shares of FS KKR Capital stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On FS KKR Capital

A number of institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in FS KKR Capital during the second quarter valued at about $30,000. Ridgewood Investments LLC bought a new position in FS KKR Capital during the second quarter valued at about $37,000. Mather Group LLC. bought a new position in FS KKR Capital during the first quarter valued at about $39,000. Rothschild Investment LLC bought a new stake in shares of FS KKR Capital in the 2nd quarter valued at approximately $39,000. Finally, Financial Gravity Asset Management Inc. grew its stake in shares of FS KKR Capital by 198.7% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock valued at $42,000 after purchasing an additional 1,421 shares during the period. 36.26% of the stock is currently owned by institutional investors.

FS KKR Capital Price Performance

Shares of NYSE:FSK opened at $19.71 on Wednesday. FS KKR Capital has a fifty-two week low of $18.31 and a fifty-two week high of $20.99. The business has a 50-day moving average of $19.78 and a two-hundred day moving average of $19.69. The stock has a market capitalization of $5.52 billion, a P/E ratio of 8.21 and a beta of 1.26. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $426.41 million. FS KKR Capital had a return on equity of 12.39% and a net margin of 35.46%. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts predict that FS KKR Capital will post 2.86 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The firm also recently disclosed a None dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 13.33%. FS KKR Capital’s payout ratio is presently 106.67%.

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.