CastleKnight Management LP Reduces Holdings in FS KKR Capital Corp. $FSK

CastleKnight Management LP trimmed its holdings in FS KKR Capital Corp. (NYSE:FSK) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,100 shares of the company’s stock after selling 101,700 shares during the quarter. CastleKnight Management LP’s holdings in FS KKR Capital were worth $7,688,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $26,000. Jessup Wealth Management Inc acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $26,000. FNY Investment Advisers LLC acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $31,000. 36.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSK has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Keefe, Bruyette & Woods cut their target price on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Finally, B. Riley Financial cut their target price on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $10.58.

Trending Headlines about FS KKR Capital

Here are the key news stories impacting FS KKR Capital this week:

• Neutral Sentiment: Several law firms, including Glancy Prongay Wolke & Rotter, Levi & Korsinsky, Bernstein Liebhard, Pomerantz, Faruqi & Faruqi, Rosen, Portnoy, and The Gross Law Firm, reminded investors about class-action deadlines and lead-plaintiff opportunities related to FS KKR Capital. Article title: FS KKR Capital Corp. (FSK) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
• Neutral Sentiment: One notice cited alleged portfolio losses totaling $880 million across two corrective disclosures, which may increase attention on the lawsuit and deepen investor concern. Article title: FSK Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in FS KKR CAPITAL CORP. Securities Lawsuit – Contact Levi & Korsinsky
• Negative Sentiment: The legal campaign around FS KKR Capital may keep the stock under pressure as investors reassess litigation risk ahead of July deadlines, especially with the shares already trading near their 52-week low. Article title: INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in FS KKR Capital Corp. of Class Action Lawsuit and Upcoming Deadlines – FSK

FS KKR Capital Stock Performance

Shares of FSK opened at $10.21 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $2.86 billion, a P/E ratio of -5.18 and a beta of 0.83. The company’s fifty day moving average is $10.82 and its two-hundred day moving average is $12.35. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $22.68.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The business’s quarterly revenue was down 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, sell-side analysts predict that FS KKR Capital Corp. will post 1.66 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 16.5%. The ex-dividend date is Wednesday, June 17th. FS KKR Capital’s payout ratio is presently -91.37%.

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.