Elevation Point Wealth Partners LLC Invests $901,000 in FS KKR Capital Corp. $FSK

Elevation Point Wealth Partners LLC purchased a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the third quarter, Holdings Channel reports. The firm purchased 60,338 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds also recently bought and sold shares of the business. Balyasny Asset Management L.P. acquired a new position in shares of FS KKR Capital during the 3rd quarter worth approximately $21,917,000. Van ECK Associates Corp increased its holdings in shares of 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 purchasing an additional 752,956 shares during the last quarter. Gateway Wealth Partners LLC lifted its position in FS KKR Capital by 4,863.0% during the third 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. North Ground Capital lifted its position in FS KKR Capital by 3,743.8% during the third 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 in the last quarter. Finally, UBS Group AG boosted its stake in FS KKR Capital by 12.1% during the third quarter. UBS Group AG now owns 3,300,094 shares of the company’s stock worth $49,270,000 after buying an additional 355,745 shares during the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

Insider Buying and Selling at FS KKR Capital

In related news, insider Daniel Pietrzak bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $11.25 per share, for a total transaction of $56,250.00. Following the acquisition, the insider owned 64,800 shares of the company’s stock, valued at approximately $729,000. This trade represents a 8.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FSK shares. Keefe, Bruyette & Woods dropped their target price on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Monday, March 2nd. Zacks Research lowered FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Wall Street Zen cut shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Wells Fargo & Company cut their price objective on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $13.36.

FS KKR Capital Stock Up 0.6%

Shares of NYSE:FSK opened at $10.16 on Tuesday. FS KKR Capital Corp. has a 12-month low of $10.04 and a 12-month high of $22.68. The business has a 50-day moving average price of $13.00 and a 200 day moving average price of $14.66. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 3.05.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. The company had revenue of $348.00 million during the quarter, compared to analyst estimates of $361.59 million. During the same period in the previous year, the company earned $0.66 EPS. As a group, analysts expect that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a dividend yield of 1,595.0%. FS KKR Capital’s dividend payout ratio (DPR) is presently 8,533.33%.

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.