FS Investment Co. (NYSE:FSIC) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $9.50.
A number of analysts have recently weighed in on FSIC shares. National Securities raised FS Investment from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. ValuEngine raised FS Investment from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet lowered FS Investment from a “b-” rating to a “c+” rating in a research report on Thursday, January 11th. Zacks Investment Research lowered FS Investment from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the company a “hold” rating in a report on Friday, March 2nd.
In other FS Investment news, Director Thomas Gravina bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were purchased at an average price of $7.76 per share, with a total value of $38,800.00. Following the completion of the acquisition, the director now directly owns 47,300 shares of the company’s stock, valued at approximately $367,048. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael C. Forman bought 17,100 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $7.25 per share, for a total transaction of $123,975.00. The disclosure for this purchase can be found here. Insiders purchased 197,827 shares of company stock worth $1,469,259 in the last three months. 1.07% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSIC. Millennium Management LLC boosted its stake in FS Investment by 9,310.6% in the fourth quarter. Millennium Management LLC now owns 3,158,473 shares of the financial services provider’s stock valued at $23,215,000 after acquiring an additional 3,124,910 shares in the last quarter. Two Sigma Advisers LP boosted its stake in FS Investment by 452.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,418,955 shares of the financial services provider’s stock valued at $10,429,000 after acquiring an additional 1,161,955 shares in the last quarter. Two Sigma Investments LP boosted its stake in FS Investment by 142.7% in the fourth quarter. Two Sigma Investments LP now owns 1,546,908 shares of the financial services provider’s stock valued at $11,370,000 after acquiring an additional 909,539 shares in the last quarter. Citadel Advisors LLC boosted its stake in FS Investment by 970.2% in the fourth quarter. Citadel Advisors LLC now owns 629,118 shares of the financial services provider’s stock valued at $4,624,000 after acquiring an additional 570,335 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in FS Investment by 12.0% in the fourth quarter. LPL Financial LLC now owns 5,171,905 shares of the financial services provider’s stock valued at $38,013,000 after acquiring an additional 552,231 shares in the last quarter. Institutional investors own 38.55% of the company’s stock.
FS Investment (FSIC) traded up $0.05 during trading on Friday, hitting $7.25. The stock had a trading volume of 1,433,642 shares, compared to its average volume of 950,675. FS Investment has a 1-year low of $7.05 and a 1-year high of $9.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1,769.22, a price-to-earnings ratio of 9.67, a P/E/G ratio of 3.10 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Wednesday, March 21st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.48%. The ex-dividend date is Tuesday, March 20th. FS Investment’s dividend payout ratio (DPR) is presently 101.33%.
FS Investment declared that its board has approved a stock repurchase plan on Thursday, March 1st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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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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