Financial Gravity Companies Inc. Purchases New Shares in FS KKR Capital Corp. $FSK

Financial Gravity Companies Inc. acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 253,974 shares of the company’s stock, valued at approximately $5,270,000. FS KKR Capital accounts for 0.8% of Financial Gravity Companies Inc.’s holdings, making the stock its 25th largest holding.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its position in FS KKR Capital by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,313,907 shares of the company’s stock worth $89,514,000 after acquiring an additional 28,619 shares during the period. LPL Financial LLC increased its holdings in shares of FS KKR Capital by 2.8% during the first quarter. LPL Financial LLC now owns 3,682,289 shares of the company’s stock worth $77,144,000 after purchasing an additional 98,647 shares during the period. Generali Asset Management SPA SGR raised its position in shares of FS KKR Capital by 21.7% in the second quarter. Generali Asset Management SPA SGR now owns 2,485,265 shares of the company’s stock valued at $51,569,000 after buying an additional 442,374 shares in the last quarter. Cura Wealth Advisors LLC boosted its stake in shares of FS KKR Capital by 1.1% in the first quarter. Cura Wealth Advisors LLC now owns 1,784,604 shares of the company’s stock valued at $37,387,000 after buying an additional 19,367 shares during the period. Finally, CCLA Investment Management acquired a new stake in FS KKR Capital during the second quarter worth approximately $33,463,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Price Performance

Shares of FS KKR Capital stock opened at $15.62 on Friday. The firm’s 50 day moving average is $15.46 and its 200 day moving average is $18.61. FS KKR Capital Corp. has a 1 year low of $14.05 and a 1 year high of $24.10. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $373.00 million during the quarter, compared to the consensus estimate of $374.89 million. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. During the same quarter in the prior year, the firm earned $0.74 EPS. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.64 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $2.56 dividend on an annualized basis and a yield of 16.4%. FS KKR Capital’s payout ratio is currently 263.92%.

Insider Transactions at FS KKR Capital

In other news, CEO Michael C. Forman bought 10,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was acquired at an average price of $15.50 per share, with a total value of $155,000.00. Following the acquisition, the chief executive officer directly owned 24,220 shares in the company, valued at approximately $375,410. This trade represents a 70.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Pietrzak purchased 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following the completion of the purchase, the insider directly owned 59,800 shares of the company’s stock, valued at approximately $905,970. This represents a 20.08% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 20,330 shares of company stock valued at $312,480. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FSK shares. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods cut their price objective on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a research report on Monday, November 10th. Wells Fargo & Company raised shares of FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 target price on the stock in a report on Monday, October 6th. Zacks Research cut shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada reduced their price target on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, FS KKR Capital has an average rating of “Reduce” and a consensus target price of $17.50.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.