Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Fifth Street Senior Floating Rate Corp. is a business development company. It invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from debt investments while seeking to preserve capital. Fifth Street Senior Floating Rate Corp. is based in White Plains, New York. “

Separately, TheStreet upgraded Fifth Street Senior Floating Rate Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $9.33.

Shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) traded down 0.67% during midday trading on Tuesday, hitting $8.84. The stock had a trading volume of 51,162 shares. Fifth Street Senior Floating Rate Corp. has a 52-week low of $6.53 and a 52-week high of $9.09. The firm’s 50 day moving average price is $8.70 and its 200 day moving average price is $8.19.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last posted its earnings results on Tuesday, August 9th. The investment management company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. Fifth Street Senior Floating Rate Corp. had a negative net margin of 23.51% and a positive return on equity of 7.71%. Equities research analysts expect that Fifth Street Senior Floating Rate Corp. will post $0.87 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be issued a $0.075 dividend. This represents a $0.90 annualized dividend and a yield of 10.18%. The ex-dividend date is Wednesday, October 12th. Fifth Street Senior Floating Rate Corp.’s payout ratio is -209.30%.

In other news, major shareholder Leonard M. Tannenbaum acquired 1,942,641 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were bought at an average cost of $9.00 per share, for a total transaction of $17,483,769.00. Following the acquisition, the insider now owns 5,098,820 shares in the company, valued at approximately $45,889,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Leonard M. Tannenbaum acquired 71,758 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was purchased at an average price of $8.50 per share, for a total transaction of $609,943.00. Following the completion of the acquisition, the insider now owns 4,004,344 shares in the company, valued at approximately $34,036,924. The disclosure for this purchase can be found here. 0.18% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in Fifth Street Senior Floating Rate Corp. during the second quarter valued at about $104,000. Citigroup Inc. boosted its position in shares of Fifth Street Senior Floating Rate Corp. by 2.7% in the second quarter. Citigroup Inc. now owns 13,917 shares of the investment management company’s stock valued at $111,000 after buying an additional 362 shares in the last quarter. Raymond James & Associates bought a new position in shares of Fifth Street Senior Floating Rate Corp. during the second quarter valued at $115,000. Summit Securities Group LLC bought a new position in shares of Fifth Street Senior Floating Rate Corp. during the second quarter valued at $133,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Fifth Street Senior Floating Rate Corp. by 1.8% in the second quarter. Janney Montgomery Scott LLC now owns 37,200 shares of the investment management company’s stock valued at $319,000 after buying an additional 666 shares in the last quarter. Institutional investors own 30.97% of the company’s stock.

Fifth Street Senior Floating Rate Corp. Company Profile

Fifth Street Senior Floating Rate Corp. is the United States-based closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return by generating income from its debt investments while seeking to preserve its capital. The Company invests in senior secured loans, including first lien, unitranche and second lien debt instruments.

5 Day Chart for NASDAQ:FSFR

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