Kovack Advisors Inc. Increases Stock Position in FS KKR Capital Corp. $FSK

Kovack Advisors Inc. raised its holdings in FS KKR Capital Corp. (NYSE:FSK) by 42.4% during the 4th quarter, Holdings Channel reports. The firm owned 294,468 shares of the company’s stock after purchasing an additional 87,664 shares during the quarter. Kovack Advisors Inc.’s holdings in FS KKR Capital were worth $4,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bison Wealth LLC lifted its stake in shares of FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after buying an additional 720 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of FS KKR Capital by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock valued at $5,612,000 after acquiring an additional 32,258 shares during the period. Empowered Funds LLC raised its stake in shares of FS KKR Capital by 139.9% in the 1st quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after acquiring an additional 15,596 shares during the period. Marshall Wace LLP purchased a new position in shares of FS KKR Capital in the 2nd quarter valued at $1,806,000. Finally, Nebula Research & Development LLC raised its stake in shares of FS KKR Capital by 83.1% in the 2nd quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock valued at $420,000 after acquiring an additional 9,183 shares during the period. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. cut 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, March 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. B. Riley Financial lowered their price target on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company lowered their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $10.58.

FS KKR Capital Price Performance

FSK opened at $10.84 on Friday. The company has a fifty day simple moving average of $10.80 and a 200 day simple moving average of $12.49. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -5.50 and a beta of 0.83. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $22.68. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. FS KKR Capital’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Equities research analysts expect that FS KKR Capital Corp. will post 1.66 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 15.5%. The ex-dividend date of this dividend is Wednesday, June 17th. FS KKR Capital’s dividend payout ratio (DPR) is currently -91.37%.

Key Headlines Impacting FS KKR Capital

Here are the key news stories impacting FS KKR Capital this week:

• Negative Sentiment: Investors are being reminded of a pending class action alleging securities-law violations at FS KKR Capital, which can weigh on sentiment and raise concerns about legal costs, management distraction, and potential settlement risk. Levi & Korsinsky Deadline Alert
• Negative Sentiment: One notice says claims focus on alleged misrepresentations about non-accrual portfolio management that allegedly led to about $880 million in fair value losses across two corrective disclosures, increasing the perceived severity of the case. Levi & Korsinsky Deadline Alert
• Neutral Sentiment: Several firms are simply advertising the approaching July 3 or July 6 lead-plaintiff deadlines, which adds headline noise but does not provide new operational news about the business. Faruqi & Faruqi Shareholder Notice

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.