Fifth Street Finance Corp. (NASDAQ:FSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $6.50 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 10.17% from the company’s previous close.

According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and capital appreciation from its equity investments. “

Several other equities analysts have also weighed in on the company. Deutsche Bank AG reduced their price objective on Fifth Street Finance Corp. from $6.75 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 16th. National Securities reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of Fifth Street Finance Corp. in a research note on Thursday, August 11th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.45.

Analyst Recommendations for Fifth Street Finance Corp. (NASDAQ:FSC)

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) traded up 1.03% during trading on Tuesday, reaching $5.90. The company had a trading volume of 668,558 shares. Fifth Street Finance Corp. has a 52-week low of $4.40 and a 52-week high of $6.53. The firm has a 50-day moving average price of $5.58 and a 200-day moving average price of $5.50.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.72 annualized dividend and a yield of 12.20%. Fifth Street Finance Corp.’s dividend payout ratio is presently -160.00%.

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In other Fifth Street Finance Corp. news, Director James Castro-Blanco acquired 8,250 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were bought at an average cost of $6.16 per share, for a total transaction of $50,820.00. Following the acquisition, the director now directly owns 12,300 shares of the company’s stock, valued at $75,768. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Several large investors have recently modified their holdings of FSC. Creative Planning raised its position in Fifth Street Finance Corp. by 177.6% in the second quarter. Creative Planning now owns 58,867 shares of the company’s stock worth $286,000 after buying an additional 37,662 shares in the last quarter. Delphi Financial Group Inc. raised its position in Fifth Street Finance Corp. by 0.3% in the second quarter. Delphi Financial Group Inc. now owns 3,906,378 shares of the company’s stock worth $18,985,000 after buying an additional 11,398 shares in the last quarter. Sanders Morris Harris Inc. raised its position in Fifth Street Finance Corp. by 1.2% in the second quarter. Sanders Morris Harris Inc. now owns 112,643 shares of the company’s stock worth $546,000 after buying an additional 1,385 shares in the last quarter. Bank of Montreal Can bought a new position in Fifth Street Finance Corp. during the second quarter worth about $8,097,000. Finally, Sequoia Financial Advisors LLC bought a new position in Fifth Street Finance Corp. during the second quarter worth about $152,000. Institutional investors and hedge funds own 30.99% 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.

5 Day Chart for NASDAQ:FSC

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