FS Investment (FSIC) Cut to “C+” at TheStreet

TheStreet cut shares of FS Investment (NYSE:FSIC) from a b- rating to a c+ rating in a report published on Thursday.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded FS Investment from a buy rating to a hold rating in a research note on Monday, October 16th. National Securities upgraded FS Investment from a neutral rating to a buy rating in a research note on Friday, December 15th. ValuEngine raised FS Investment from a hold rating to a buy rating in a report on Friday, December 1st. BidaskClub cut FS Investment from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price objective on FS Investment and gave the company a hold rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $9.56.

Shares of FS Investment (FSIC) opened at $7.70 on Thursday. The stock has a market capitalization of $1,890.00, a price-to-earnings ratio of 8.65, a P/E/G ratio of 3.21 and a beta of 0.94. FS Investment has a one year low of $7.32 and a one year high of $10.80. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.74.

FS Investment (NYSE:FSIC) last released its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $103.69 million during the quarter, compared to the consensus estimate of $97.03 million. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. equities analysts predict that FS Investment will post 0.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $0.76 annualized dividend and a yield of 9.87%. FS Investment’s dividend payout ratio is presently 85.39%.

In related news, CEO Michael C. Forman acquired 6,600 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was purchased at an average cost of $7.49 per share, with a total value of $49,434.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael C. Forman acquired 16,531 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was bought at an average cost of $7.46 per share, with a total value of $123,321.26. The disclosure for this purchase can be found here. Insiders acquired a total of 107,512 shares of company stock valued at $816,937 over the last ninety days. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. acquired a new position in shares of FS Investment during the 4th quarter worth $130,000. Oak Point Wealth Management acquired a new position in shares of FS Investment during the 4th quarter worth $2,461,000. Belpointe Asset Management LLC acquired a new position in shares of FS Investment during the 3rd quarter worth $132,000. Cetera Investment Advisers raised its holdings in shares of FS Investment by 886.3% during the 3rd quarter. Cetera Investment Advisers now owns 152,702 shares of the financial services provider’s stock worth $1,297,000 after buying an additional 137,220 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of FS Investment by 231.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 32,206 shares of the financial services provider’s stock worth $272,000 after buying an additional 22,481 shares in the last quarter. 32.36% of the stock is owned by institutional investors.

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About FS Investment

FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.

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