Denali Advisors LLC Trims Stake in FS KKR Capital Corp. $FSK

Denali Advisors LLC reduced its stake in FS KKR Capital Corp. (NYSE:FSK) by 18.4% during the 3rd quarter, Holdings Channel reports. The fund owned 251,488 shares of the company’s stock after selling 56,559 shares during the period. Denali Advisors LLC’s holdings in FS KKR Capital were worth $3,755,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in FS KKR Capital by 86.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 151,358 shares of the company’s stock valued at $2,260,000 after purchasing an additional 70,040 shares in the last quarter. HighTower Advisors LLC grew its stake in FS KKR Capital by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 231,821 shares of the company’s stock worth $3,461,000 after acquiring an additional 13,228 shares during the period. TT Capital Management LLC lifted its stake in shares of FS KKR Capital by 12.8% during the 3rd quarter. TT Capital Management LLC now owns 87,225 shares of the company’s stock worth $1,302,000 after purchasing an additional 9,903 shares during the period. Whipplewood Advisors LLC boosted its holdings in shares of FS KKR Capital by 35.9% during the third quarter. Whipplewood Advisors LLC now owns 32,791 shares of the company’s stock worth $490,000 after purchasing an additional 8,668 shares during the last quarter. Finally, Savvy Advisors Inc. increased its stake in FS KKR Capital by 39.0% in the third quarter. Savvy Advisors Inc. now owns 33,281 shares of the company’s stock valued at $497,000 after purchasing an additional 9,337 shares during the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FSK. Royal Bank Of Canada cut their price objective on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FS KKR Capital in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.

FS KKR Capital Stock Performance

Shares of FSK stock opened at $13.34 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $15.66. FS KKR Capital Corp. has a 52 week low of $12.65 and a 52 week high of $24.10.

FS KKR Capital Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.