Brokerages Set FS Investment Co. (FSIC) PT at $9.50
FS Investment Co. (NYSE:FSIC) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.50.
A number of research firms have recently weighed in on FSIC. Zacks Investment Research raised FS Investment from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. TheStreet downgraded FS Investment from a “b-” rating to a “c+” rating in a report on Thursday, January 11th. ValuEngine downgraded FS Investment from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the stock a “hold” rating in a report on Friday, March 2nd. Finally, National Securities raised FS Investment from a “neutral” rating to a “buy” rating in a report on Friday, December 15th.
FS Investment (NYSE FSIC) traded up $0.30 on Friday, hitting $7.35. The stock had a trading volume of 1,391,403 shares, compared to its average volume of 1,433,695. FS Investment has a 12 month low of $6.95 and a 12 month high of $9.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1,744.65, a P/E ratio of 9.73, a P/E/G ratio of 3.06 and a beta of 0.96.
FS Investment declared that its board has approved a share buyback plan on Thursday, March 1st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Thomas Gravina purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was acquired at an average price of $7.76 per share, with a total value of $38,800.00. Following the completion of the purchase, the director now directly owns 47,300 shares in the company, valued at $367,048. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Adelman purchased 15,008 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average cost of $7.05 per share, with a total value of $105,806.40. Following the purchase, the director now owns 34,063 shares of the company’s stock, valued at $240,144.15. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 218,720 shares of company stock valued at $1,616,555. 1.07% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of FSIC. FDx Advisors Inc. raised its stake in FS Investment by 133.3% in the third quarter. FDx Advisors Inc. now owns 99,974 shares of the financial services provider’s stock valued at $845,000 after purchasing an additional 57,123 shares in the last quarter. Sei Investments Co. raised its stake in FS Investment by 5.5% during the third quarter. Sei Investments Co. now owns 192,825 shares of the financial services provider’s stock worth $1,629,000 after acquiring an additional 9,979 shares in the last quarter. Bank of New York Mellon Corp raised its stake in FS Investment by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 268,053 shares of the financial services provider’s stock worth $2,265,000 after acquiring an additional 13,329 shares in the last quarter. Ameriprise Financial Inc. raised its stake in FS Investment by 0.8% during the third quarter. Ameriprise Financial Inc. now owns 2,418,770 shares of the financial services provider’s stock worth $20,196,000 after acquiring an additional 19,363 shares in the last quarter. Finally, Regal Investment Advisors LLC acquired a new position in FS Investment during the third quarter worth about $130,000. 33.44% of the stock is owned by institutional investors and hedge funds.
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About FS Investment
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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