FS KKR Capital Corp. (NYSE:FSK) Short Interest Update

FS KKR Capital Corp. (NYSE:FSK) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 9,311,295 shares, an increase of 104.9% from the February 12th total of 4,543,383 shares. Based on an average daily volume of 5,816,565 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily volume of 5,816,565 shares, the days-to-cover ratio is presently 1.6 days.

FS KKR Capital Stock Performance

NYSE:FSK opened at $10.09 on Friday. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average price is $13.10 and its 200-day moving average price is $14.76. FS KKR Capital has a 52 week low of $10.06 and a 52 week high of $22.68.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $361.59 million. FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, sell-side analysts predict that FS KKR Capital will post 2.89 earnings per share for the current year.

FS KKR Capital Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 1,595.0%. FS KKR Capital’s payout ratio is currently 8,533.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FSK shares. Royal Bank Of Canada lowered their price target on shares of FS KKR Capital from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company lowered their target price on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. B. Riley Financial dropped their price target on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, FS KKR Capital has a consensus rating of “Reduce” and an average target price of $13.36.

Insiders Place Their Bets

In related news, insider Daniel Pietrzak purchased 5,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the completion of the transaction, the insider directly owned 64,800 shares in the company, valued at approximately $729,000. This represents a 8.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On FS KKR Capital

Several institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in FS KKR Capital by 55,074.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after buying an additional 7,726,974 shares during the last quarter. Oak Hill Advisors LP purchased a new stake in shares of FS KKR Capital during the 4th quarter valued at about $38,659,000. Balyasny Asset Management L.P. bought a new stake in shares of FS KKR Capital in the third quarter worth approximately $21,917,000. Marshall Wace LLP bought a new stake in shares of FS KKR Capital in the fourth quarter worth approximately $14,842,000. Finally, Van ECK Associates Corp raised its holdings in shares of FS KKR Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock valued at $59,566,000 after purchasing an additional 752,956 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Company 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.