Zacks Investment Research lowered shares of KCAP Financial, Inc. (NASDAQ:KCAP) from a hold rating to a sell rating in a report issued on Thursday morning.

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. “

KCAP has been the subject of a number of other reports. ValuEngine upgraded KCAP Financial from a hold rating to a buy rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services started coverage on KCAP Financial in a research note on Monday, September 25th. They issued a neutral rating for the company. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $3.50 target price on shares of KCAP Financial in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. KCAP Financial has an average rating of Hold and an average target price of $9.75.

KCAP Financial (NASDAQ:KCAP) traded up $0.02 during trading hours on Thursday, reaching $3.40. The company had a trading volume of 104,800 shares, compared to its average volume of 137,589. The firm has a market capitalization of $127.17, a P/E ratio of 10.00 and a beta of 1.72. KCAP Financial has a fifty-two week low of $3.30 and a fifty-two week high of $4.14. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55.

KCAP Financial (NASDAQ:KCAP) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $6.25 million during the quarter, compared to analyst estimates of $6.80 million. KCAP Financial had a return on equity of 6.54% and a net margin of 7.78%. analysts expect that KCAP Financial will post 0.28 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were paid a $0.12 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.48 dividend on an annualized basis and a yield of 14.12%. KCAP Financial’s payout ratio is currently 800.00%.

Hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new position in shares of KCAP Financial during the third quarter worth approximately $125,000. Citadel Advisors LLC boosted its position in shares of KCAP Financial by 55.8% during the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock worth $152,000 after buying an additional 14,879 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of KCAP Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 55,589 shares of the financial services provider’s stock worth $226,000 after buying an additional 16,970 shares during the period. Eagle Global Advisors LLC boosted its position in shares of KCAP Financial by 2.9% during the second quarter. Eagle Global Advisors LLC now owns 60,881 shares of the financial services provider’s stock worth $215,000 after buying an additional 1,700 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of KCAP Financial by 3.0% during the first quarter. Legal & General Group Plc now owns 85,400 shares of the financial services provider’s stock worth $346,000 after buying an additional 2,505 shares during the period. Institutional investors own 20.05% of the company’s stock.

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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