Fifth Street Finance Corp. (FSC) to Release Quarterly Earnings on Wednesday
Fifth Street Finance Corp. (NASDAQ:FSC) is scheduled to issue its quarterly earnings data on Wednesday, November 30th. Parties interested in participating in the company’s conference call can do so using this link.
Fifth Street Finance Corp. (NASDAQ:FSC) opened at 5.89 on Monday. Fifth Street Finance Corp. has a one year low of $4.40 and a one year high of $6.53. The stock has a 50 day moving average of $5.58 and a 200 day moving average of $5.49.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 12.22%. The ex-dividend date of this dividend is Tuesday, December 13th. Fifth Street Finance Corp.’s payout ratio is currently -160.00%.
Several equities analysts have recently issued reports on the stock. Deutsche Bank AG dropped their price target on shares of Fifth Street Finance Corp. from $6.75 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 16th. National Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of Fifth Street Finance Corp. in a research note on Thursday, August 11th. Finally, Zacks Investment Research raised shares of Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.41.
In related news, Director James Castro-Blanco purchased 8,250 shares of Fifth Street Finance Corp. stock in a transaction on Wednesday, August 31st. The stock was acquired at an average cost of $6.16 per share, for a total transaction of $50,820.00. Following the completion of the acquisition, the director now owns 12,300 shares of the company’s stock, valued at approximately $75,768. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of FSC. Mackenzie Financial Corp acquired a new position in shares of Fifth Street Finance Corp. during the third quarter worth about $107,000. Quantitative Systematic Strategies LLC purchased a new position in Fifth Street Finance Corp. during the third quarter valued at $126,000. Ameriprise Financial Inc. purchased a new position in Fifth Street Finance Corp. during the second quarter valued at $143,000. Stevens Capital Management LP boosted its position in Fifth Street Finance Corp. by 81.8% in the second quarter. Stevens Capital Management LP now owns 31,614 shares of the company’s stock valued at $153,000 after buying an additional 14,224 shares during the period. Finally, Cipher Capital LP boosted its position in Fifth Street Finance Corp. by 105.3% in the second quarter. Cipher Capital LP now owns 34,087 shares of the company’s stock valued at $166,000 after buying an additional 17,486 shares during the period. Hedge funds and other institutional investors own 30.70% of the company’s stock.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from the debt investments and capital appreciation from the equity investments.
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