KCAP Financial Inc. (KCAP) Downgraded by Zacks Investment Research to “Hold”
KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “
Separately, TheStreet raised shares of KCAP Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Five research analysts have rated the stock with a hold rating, KCAP Financial currently has an average rating of “Hold” and a consensus price target of $4.50.
KCAP Financial (NASDAQ:KCAP) opened at 4.72 on Wednesday. The company’s market capitalization is $173.32 million. KCAP Financial has a 52 week low of $2.62 and a 52 week high of $5.48. The company’s 50-day moving average is $4.44 and its 200 day moving average is $3.88.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 12.71%. The ex-dividend date of this dividend is Wednesday, October 12th. KCAP Financial’s dividend payout ratio (DPR) is presently -71.43%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. KCG Holdings Inc. purchased a new position in shares of KCAP Financial during the second quarter valued at approximately $105,000. Nuveen Fund Advisors LLC purchased a new position in shares of KCAP Financial during the second quarter valued at approximately $366,000. Stratos Wealth Partners LTD. purchased a new position in shares of KCAP Financial during the second quarter valued at approximately $118,000. Franklin Resources Inc. increased its position in shares of KCAP Financial by 4.2% in the second quarter. Franklin Resources Inc. now owns 764,988 shares of the company’s stock valued at $2,999,000 after buying an additional 30,763 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in shares of KCAP Financial by 1.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 47,475 shares of the company’s stock valued at $186,000 after buying an additional 480 shares during the last quarter. 15.54% of the stock is currently owned by institutional investors.
KCAP Financial Company Profile
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
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