Fifth Street Finance Corp. (FSC) CEO Patrick J. Dalton Acquires 22,500 Shares
Fifth Street Finance Corp. (NASDAQ:FSC) CEO Patrick J. Dalton purchased 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was acquired at an average price of $4.57 per share, for a total transaction of $102,825.00. Following the completion of the purchase, the chief executive officer now directly owns 22,500 shares of the company’s stock, valued at approximately $102,825. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Fifth Street Finance Corp. (NASDAQ:FSC) traded down 1.06% during midday trading on Thursday, reaching $4.67. 1,529,888 shares of the company’s stock were exchanged. Fifth Street Finance Corp. has a 12 month low of $4.40 and a 12 month high of $6.32. The firm has a 50 day moving average price of $5.38 and a 200 day moving average price of $5.62.
Fifth Street Finance Corp. (NASDAQ:FSC) last posted its quarterly earnings data on Thursday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. Fifth Street Finance Corp. had a positive return on equity of 9.13% and a negative net margin of 33.22%. On average, analysts expect that Fifth Street Finance Corp. will post $0.67 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in Fifth Street Finance Corp. during the third quarter worth approximately $21,791,000. Ares Management LLC boosted its stake in Fifth Street Finance Corp. by 112.5% in the third quarter. Ares Management LLC now owns 1,876,907 shares of the company’s stock worth $10,905,000 after buying an additional 993,699 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in Fifth Street Finance Corp. by 32.1% in the third quarter. Muzinich & Co. Inc. now owns 1,496,507 shares of the company’s stock worth $8,695,000 after buying an additional 363,233 shares during the last quarter. Two Sigma Investments LP boosted its stake in Fifth Street Finance Corp. by 228.3% in the fourth quarter. Two Sigma Investments LP now owns 928,768 shares of the company’s stock worth $4,987,000 after buying an additional 645,862 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Fifth Street Finance Corp. by 19.9% in the fourth quarter. Van ECK Associates Corp now owns 721,733 shares of the company’s stock worth $3,876,000 after buying an additional 119,777 shares during the last quarter. 32.17% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Barclays PLC set a $5.00 price target on shares of Fifth Street Finance Corp. and gave the company a “hold” rating in a research note on Tuesday. National Securities decreased their price target on shares of Fifth Street Finance Corp. from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Zacks Investment Research downgraded shares of Fifth Street Finance Corp. from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.58.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’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.
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