FS Investment (FSIC) Stock Rating Lowered by ValuEngine
ValuEngine cut shares of FS Investment (NYSE:FSIC) from a buy rating to a hold rating in a research report report published on Friday morning.
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of FS Investment from a sell rating to a hold rating in a report on Tuesday, January 16th. TheStreet downgraded shares of FS Investment from a b- rating to a c+ rating in a report on Thursday, January 11th. National Securities upgraded shares of FS Investment from a neutral rating to a buy rating in a report on Friday, December 15th. BidaskClub downgraded shares of FS Investment from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price target on shares of FS Investment and gave the company a hold rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $9.42.
FS Investment (NYSE FSIC) traded down $0.20 during trading on Friday, hitting $7.50. 1,610,000 shares of the stock were exchanged, compared to its average volume of 2,030,000. FS Investment has a 12-month low of $7.32 and a 12-month high of $10.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market cap of $1,840.00, a P/E ratio of 8.43, a PEG ratio of 3.24 and a beta of 0.93.
In related news, Director Michael J. Hagan acquired 30,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was bought at an average cost of $7.84 per share, with a total value of $235,200.00. Following the transaction, the director now directly owns 70,000 shares in the company, valued at $548,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael C. Forman acquired 16,531 shares of the stock in a transaction on Thursday, December 28th. The stock was bought at an average cost of $7.46 per share, with a total value of $123,321.26. The disclosure for this purchase can be found here. Insiders have purchased a total of 107,512 shares of company stock worth $816,937 over the last quarter. 1.07% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Chessman Wealth Strategies RIA purchased a new stake in FS Investment in the 4th quarter valued at about $257,000. IFG Advisory LLC purchased a new stake in FS Investment in the 4th quarter valued at about $374,000. Clear Harbor Asset Management LLC purchased a new stake in FS Investment in the 4th quarter valued at about $485,000. Cornerstone Financial Partners LLC purchased a new stake in FS Investment in the 4th quarter valued at about $173,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in FS Investment in the 4th quarter valued at about $130,000. 32.43% of the stock is owned by institutional investors.
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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