FS Investment Corporation (NYSE:FSIC) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of FS Investment Corporation (NYSE:FSIC) from a hold rating to a sell rating in a research note published on Wednesday, July 12th.
According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “
A number of other brokerages have also recently issued reports on FSIC. BidaskClub upgraded FS Investment Corporation from a sell rating to a hold rating in a report on Wednesday, June 28th. TheStreet upgraded shares of FS Investment Corporation from a c rating to a b rating in a research report on Monday, April 17th. Keefe, Bruyette & Woods set a $10.00 price target on shares of FS Investment Corporation and gave the company a hold rating in a research report on Wednesday, May 31st. Finally, National Securities reiterated a neutral rating and issued a $10.00 price target on shares of FS Investment Corporation in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $9.79.
Shares of FS Investment Corporation (FSIC) opened at 8.90 on Wednesday. FS Investment Corporation has a one year low of $8.76 and a one year high of $10.80. The stock has a 50 day moving average price of $9.10 and a 200-day moving average price of $9.66.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. FS Investment Corporation had a return on equity of 9.44% and a net margin of 86.84%. The business had revenue of $106.06 million during the quarter, compared to analysts’ expectations of $101.94 million. On average, analysts expect that FS Investment Corporation will post $0.84 EPS for the current year.
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In related news, CEO Michael C. Forman acquired 22,320 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were bought at an average price of $8.88 per share, with a total value of $198,201.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David J. Adelman acquired 11,160 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were bought at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at $302,479.44. The disclosure for this purchase can be found here. In the last three months, insiders purchased 38,880 shares of company stock worth $345,560. 1.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in FS Investment Corporation during the first quarter worth $110,000. Wayne Hummer Investments L.L.C. acquired a new stake in FS Investment Corporation during the first quarter worth $112,000. BLB&B Advisors LLC acquired a new stake in FS Investment Corporation during the first quarter worth $113,000. JPMorgan Chase & Co. acquired a new stake in FS Investment Corporation during the first quarter worth $122,000. Finally, Exencial Wealth Advisors LLC raised its stake in FS Investment Corporation by 4.4% in the first quarter. Exencial Wealth Advisors LLC now owns 15,311 shares of the financial services provider’s stock worth $147,000 after buying an additional 650 shares in the last quarter. 31.84% of the stock is currently owned by institutional investors.
FS Investment Corporation Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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