FS Investment Corporation (NYSE:FSIC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Monday, July 17th.
Other analysts have also issued reports about the company. TheStreet upgraded FS Investment Corporation from a “c” rating to a “b” rating in a report on Monday, April 17th. Zacks Investment Research downgraded FS Investment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. National Securities reaffirmed a “neutral” rating and issued a $10.00 target price on shares of FS Investment Corporation in a research report on Monday, May 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.00 target price on shares of FS Investment Corporation in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. FS Investment Corporation has a consensus rating of “Hold” and a consensus target price of $9.79.
FS Investment Corporation (NYSE:FSIC) opened at 8.95 on Monday. The firm has a 50-day moving average price of $9.10 and a 200 day moving average price of $9.66. FS Investment Corporation has a 12 month low of $8.76 and a 12 month high of $10.80.
FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $106.06 million for the quarter, compared to analyst estimates of $101.94 million. FS Investment Corporation had a return on equity of 9.44% and a net margin of 86.84%. Equities research analysts predict that FS Investment Corporation will post $0.84 EPS for the current year.
In other FS Investment Corporation news, CEO Michael C. Forman purchased 22,320 shares of the stock in a transaction on Thursday, June 22nd. The shares were purchased at an average price of $8.88 per share, with a total value of $198,201.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Adelman purchased 11,160 shares of the stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at $302,479.44. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 38,880 shares of company stock worth $345,560. Company insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its position in shares of FS Investment Corporation by 62.0% in the first quarter. Mackenzie Financial Corp now owns 94,188 shares of the financial services provider’s stock worth $923,000 after buying an additional 36,057 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of FS Investment Corporation by 16.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 201,985 shares of the financial services provider’s stock worth $1,979,000 after buying an additional 29,024 shares during the period. First Financial Equity Corporation acquired a new position in shares of FS Investment Corporation during the first quarter worth $177,000. Legal & General Group Plc increased its position in shares of FS Investment Corporation by 9.5% in the first quarter. Legal & General Group Plc now owns 584,724 shares of the financial services provider’s stock worth $5,716,000 after buying an additional 50,874 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of FS Investment Corporation by 1.0% in the first quarter. HighTower Advisors LLC now owns 58,338 shares of the financial services provider’s stock worth $573,000 after buying an additional 579 shares during the period. 31.84% of the stock is currently owned by hedge funds and other institutional investors.
About FS Investment Corporation
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.
Receive News & Ratings for FS Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FS Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
