FS Investment Corporation (FSIC) Rating Increased to Buy at ValuEngine
FS Investment Corporation (NYSE:FSIC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday.
FSIC has been the topic of a number of other research reports. BidaskClub upgraded FS Investment Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of FS Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. National Securities reissued a “neutral” rating and issued a $10.00 target price on shares of FS Investment Corporation in a report on Monday, August 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.00.
FS Investment Corporation (NYSE:FSIC) opened at 8.55 on Monday. The stock’s 50 day moving average is $8.26 and its 200-day moving average is $9.04. FS Investment Corporation has a 12 month low of $7.95 and a 12 month high of $10.80.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). FS Investment Corporation had a return on equity of 8.92% and a net margin of 59.88%. The business had revenue of $98.70 million for the quarter, compared to analyst estimates of $103.14 million. Equities research analysts expect that FS Investment Corporation will post $0.73 EPS for the current fiscal year.
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In other news, CEO Michael C. Forman bought 17,100 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $8.41 per share, with a total value of $143,811.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 21,575 shares of company stock worth $181,177 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in shares of FS Investment Corporation by 96.5% during the first quarter. UBS Group AG now owns 2,433,563 shares of the financial services provider’s stock worth $23,849,000 after purchasing an additional 1,194,896 shares during the period. WealthPLAN Partners LLC increased its holdings in FS Investment Corporation by 1,812.2% in the second quarter. WealthPLAN Partners LLC now owns 485,724 shares of the financial services provider’s stock valued at $4,444,000 after purchasing an additional 460,323 shares during the period. Ameriprise Financial Inc. increased its holdings in FS Investment Corporation by 20.1% in the second quarter. Ameriprise Financial Inc. now owns 2,399,407 shares of the financial services provider’s stock valued at $21,943,000 after purchasing an additional 401,657 shares during the period. Commerce Bank acquired a new stake in FS Investment Corporation in the second quarter valued at $3,213,000. Finally, Van ECK Associates Corp increased its holdings in FS Investment Corporation by 21.7% in the second quarter. Van ECK Associates Corp now owns 1,672,044 shares of the financial services provider’s stock valued at $15,299,000 after purchasing an additional 298,166 shares during the period. Institutional investors own 32.47% of the company’s stock.
About FS Investment Corporation
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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