Fifth Street Finance Corp. (FSC) Raised to Buy at BidaskClub
Fifth Street Finance Corp. (NASDAQ:FSC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Several other brokerages have also recently issued reports on FSC. JMP Securities upgraded Fifth Street Finance Corp. from a “market perform” rating to an “outperform” rating and set a $6.50 price objective for the company in a research note on Monday, July 17th. Maxim Group reiterated a “hold” rating on shares of Fifth Street Finance Corp. in a research report on Thursday, August 10th. Deutsche Bank AG upgraded Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and upped their target price for the company from $4.75 to $6.00 in a research report on Tuesday, July 18th. TheStreet upgraded Fifth Street Finance Corp. from a “d+” rating to a “c” rating in a research report on Wednesday, September 6th. Finally, ValuEngine downgraded shares of Fifth Street Finance Corp. from a “strong-buy” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.68.
Fifth Street Finance Corp. (NASDAQ FSC) opened at 5.56 on Wednesday. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $5.91. The company has a 50 day moving average of $5.43 and a 200-day moving average of $4.79.
Fifth Street Finance Corp. (NASDAQ:FSC) last issued its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $43.35 million. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. On average, equities analysts anticipate that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Fifth Street Finance Corp. (FSC) Raised to Buy at BidaskClub” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.watchlistnews.com/fifth-street-finance-corp-fsc-raised-to-buy-at-bidaskclub/1606744.html.
In related news, CEO Bernard D. Berman sold 20,000 shares of Fifth Street Finance Corp. stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $5.43, for a total transaction of $108,600.00. Following the completion of the transaction, the chief executive officer now directly owns 35,968 shares in the company, valued at $195,306.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC purchased a new position in Fifth Street Finance Corp. in the second quarter valued at $538,000. Oxford Asset Management acquired a new position in shares of Fifth Street Finance Corp. in the first quarter worth about $303,000. Comerica Bank acquired a new position in shares of Fifth Street Finance Corp. in the first quarter worth about $156,000. Kennedy Capital Management Inc. acquired a new position in shares of Fifth Street Finance Corp. in the second quarter worth about $6,289,000. Finally, Greenwich Investment Management Inc. raised its position in shares of Fifth Street Finance Corp. by 5.3% in the first quarter. Greenwich Investment Management Inc. now owns 797,976 shares of the credit services provider’s stock worth $3,686,000 after acquiring an additional 40,011 shares during the period. Institutional investors own 32.76% of the company’s stock.
Fifth Street Finance Corp. Company Profile
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.
Receive News & Ratings for Fifth Street Finance Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Street Finance Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.