KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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 report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $4.50.

Shares of KCAP Financial (NASDAQ:KCAP) opened at 3.94 on Wednesday. KCAP Financial has a 52-week low of $2.62 and a 52-week high of $4.89. The firm’s market capitalization is $144.68 million. The firm has a 50-day moving average price of $4.39 and a 200-day moving average price of $4.03.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Stockholders of record on Friday, October 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 15.23%. The ex-dividend date was Wednesday, October 12th. KCAP Financial’s payout ratio is -176.47%.

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in 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. UBS Group AG boosted its stake in KCAP Financial by 17.1% in the first quarter. UBS Group AG now owns 723,108 shares of the company’s stock valued at $2,603,000 after buying an additional 105,633 shares during the period. Diversified Trust Co boosted its stake in KCAP Financial by 3.4% in the third quarter. Diversified Trust Co now owns 200,641 shares of the company’s stock valued at $929,000 after buying an additional 6,638 shares during the period. Morgan Stanley boosted its stake in KCAP Financial by 46.5% in the third quarter. Morgan Stanley now owns 174,593 shares of the company’s stock valued at $810,000 after buying an additional 55,411 shares during the period. Finally, Kellner Capital LLC boosted its stake in KCAP Financial by 6.5% in the second quarter. Kellner Capital LLC now owns 165,036 shares of the company’s stock valued at $647,000 after buying an additional 10,000 shares during the period. 15.73% of the stock is owned by institutional investors.

About KCAP Financial

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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