Iron Gate Global Advisors LLC Sells 4,077 Shares of FS KKR Capital Corp. $FSK

Iron Gate Global Advisors LLC lessened its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,565 shares of the company’s stock after selling 4,077 shares during the period. Iron Gate Global Advisors LLC’s holdings in FS KKR Capital were worth $424,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kingswood Wealth Advisors LLC raised its position in FS KKR Capital by 250.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 788,025 shares of the company’s stock valued at $16,831,000 after buying an additional 563,432 shares during the last quarter. SCS Capital Management LLC acquired a new stake in FS KKR Capital in the 1st quarter valued at approximately $10,822,000. Wellington Management Group LLP acquired a new stake in FS KKR Capital in the 1st quarter valued at approximately $9,218,000. Cubist Systematic Strategies LLC acquired a new stake in FS KKR Capital in the 1st quarter valued at approximately $8,342,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in FS KKR Capital in the 1st quarter valued at approximately $6,383,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

NYSE:FSK opened at $17.77 on Thursday. FS KKR Capital Corp. has a twelve month low of $17.35 and a twelve month high of $24.10. The stock’s 50 day moving average price is $19.72 and its two-hundred day moving average price is $20.41. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.31.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of $0.63 by ($1.23). The company had revenue of $398.00 million for the quarter, compared to analyst estimates of $402.00 million. FS KKR Capital had a return on equity of 6.24% and a net margin of 13.24%.During the same period last year, the firm earned $0.75 EPS. Analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Wednesday, September 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.8%. The ex-dividend date of this dividend is Wednesday, September 17th. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.64. FS KKR Capital’s payout ratio is presently 328.21%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Zacks Research raised FS KKR Capital to a “strong sell” rating in a research report on Friday, August 8th. Royal Bank Of Canada dropped their target price on FS KKR Capital from $21.00 to $18.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 26th. Keefe, Bruyette & Woods dropped their target price on FS KKR Capital from $19.00 to $18.50 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Wells Fargo & Company dropped their target price on FS KKR Capital from $18.00 to $15.00 and set an “underweight” rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital currently has a consensus rating of “Reduce” and a consensus target price of $18.42.

FS KKR Capital Company Profile

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.