BidaskClub downgraded shares of FS Investment Corporation (NYSE:FSIC) from a sell rating to a strong sell rating in a report published on Tuesday.
A number of other research analysts also recently commented on FSIC. TheStreet upgraded shares of FS Investment Corporation from a c rating to a b rating in a research note on Monday, April 17th. Keefe, Bruyette & Woods reiterated a hold rating and set a $10.00 price objective on shares of FS Investment Corporation in a research note on Friday, April 28th. Zacks Investment Research downgraded shares of FS Investment Corporation from a hold rating to a sell rating in a research note on Tuesday, May 2nd. Finally, National Securities reiterated a neutral rating and set a $10.00 price objective on shares of FS Investment Corporation in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. FS Investment Corporation presently has a consensus rating of Hold and a consensus price target of $9.79.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings data on Wednesday, May 10th. The financial services provider reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. FS Investment Corporation had a net margin of 86.84% and a return on equity of 9.44%. The firm had revenue of $106.06 million for the quarter, compared to the consensus estimate of $101.94 million.
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In other news, Director David J. Adelman bought 11,160 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was bought at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the completion of the acquisition, the director now directly owns 34,063 shares in the company, valued at approximately $302,479.44. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael C. Forman bought 22,320 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was purchased at an average price of $8.88 per share, with a total value of $198,201.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 38,880 shares of company stock valued at $345,560. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in FS Investment Corporation during the first quarter valued at approximately $110,000. BDO Wealth Advisors LLC bought a new stake in FS Investment Corporation during the second quarter valued at approximately $103,000. Wayne Hummer Investments L.L.C. bought a new stake in FS Investment Corporation during the first quarter valued at approximately $112,000. BLB&B Advisors LLC bought a new stake in FS Investment Corporation during the first quarter valued at approximately $113,000. Finally, JPMorgan Chase & Co. bought a new stake in FS Investment Corporation during the first quarter valued at approximately $122,000. Institutional investors own 31.84% of the company’s stock.
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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