Short Interest in FS KKR Capital Corp. (NYSE:FSK) Increases By 21.8%

FS KKR Capital Corp. (NYSE:FSK) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 4,649,320 shares, a growth of 21.8% from the December 15th total of 3,816,401 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 3,281,478 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 3,281,478 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.7% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, insider Daniel Pietrzak bought 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $15.15 per share, with a total value of $151,500.00. Following the completion of the purchase, the insider owned 59,800 shares in the company, valued at $905,970. This represents a 20.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael C. Forman purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average price of $15.50 per share, with a total value of $155,000.00. Following the completion of the purchase, the chief executive officer directly owned 24,220 shares in the company, valued at $375,410. The trade was a 70.32% increase in their position. The SEC filing for this purchase provides additional information. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CCLA Investment Management bought a new stake in shares of FS KKR Capital during the 2nd quarter valued at about $33,463,000. Balyasny Asset Management L.P. acquired a new position in FS KKR Capital in the third quarter valued at approximately $21,917,000. Van ECK Associates Corp lifted its stake in FS KKR Capital by 23.3% in the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock valued at $59,566,000 after buying an additional 752,956 shares during the period. Gateway Wealth Partners LLC boosted its holdings in shares of FS KKR Capital by 4,863.0% during the 3rd quarter. Gateway Wealth Partners LLC now owns 723,508 shares of the company’s stock worth $10,802,000 after buying an additional 708,930 shares in the last quarter. Finally, North Ground Capital grew its position in shares of FS KKR Capital by 3,743.8% during the 3rd quarter. North Ground Capital now owns 615,000 shares of the company’s stock worth $9,182,000 after buying an additional 599,000 shares during the period. 36.26% of the stock is owned by institutional investors and hedge funds.

FS KKR Capital Trading Down 1.0%

FS KKR Capital stock traded down $0.14 during mid-day trading on Monday, hitting $14.52. 1,958,019 shares of the stock were exchanged, compared to its average volume of 2,154,444. FS KKR Capital has a 12 month low of $14.05 and a 12 month high of $24.10. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $15.14 and its two-hundred day simple moving average is $16.75.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. The company had revenue of $373.00 million for the quarter, compared to analyst estimates of $374.89 million. During the same period in the prior year, the firm posted $0.74 EPS. As a group, equities analysts predict that FS KKR Capital will post 2.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSK has been the subject of several research reports. Royal Bank Of Canada dropped their target price on FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Friday, November 14th. Wells Fargo & Company upgraded shares of FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 price objective for the company in a report on Monday, October 6th. Keefe, Bruyette & Woods reduced their target price on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen cut shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.50.

About FS KKR Capital

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.