Y Intercept Hong Kong Ltd Increases Stake in FS KKR Capital Corp. $FSK

Y Intercept Hong Kong Ltd boosted its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 2,599.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 414,788 shares of the company’s stock after buying an additional 399,420 shares during the period. Y Intercept Hong Kong Ltd’s holdings in FS KKR Capital were worth $4,223,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

FSK has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price target on shares of FS KKR Capital in a report on Tuesday, May 12th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $10.58.

FS KKR Capital Price Performance

Shares of NYSE:FSK opened at $10.44 on Monday. The company’s fifty day moving average price is $10.72 and its 200 day moving average price is $11.90. 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 1.38, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market capitalization of $2.92 billion, a P/E ratio of -5.30 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The business’s revenue was down 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 1.66 earnings per share for the current fiscal year.

FS KKR Capital Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, June 17th. FS KKR Capital’s payout ratio is presently -85.28%.

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.