Zacks Investment Research downgraded shares of KCAP Financial (NASDAQ:KCAP) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods restated a hold rating and issued a $3.50 target price on shares of KCAP Financial in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services assumed coverage on KCAP Financial in a research note on Monday, September 25th. They issued a neutral rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $7.75.

Shares of KCAP Financial (NASDAQ KCAP) traded up $0.03 during midday trading on Tuesday, hitting $3.44. The company had a trading volume of 108,699 shares, compared to its average volume of 176,767. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $127.92, a price-to-earnings ratio of 57.33 and a beta of 1.71. KCAP Financial has a twelve month low of $3.30 and a twelve month high of $4.12.

KCAP Financial (NASDAQ:KCAP) last issued its earnings results on Tuesday, November 7th. The financial services provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $6.25 million during the quarter, compared to analyst estimates of $6.80 million. KCAP Financial had a net margin of 7.78% and a return on equity of 6.54%. equities analysts anticipate that KCAP Financial will post 0.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Friday, January 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 11.63%. The ex-dividend date is Thursday, January 4th. KCAP Financial’s dividend payout ratio (DPR) is 666.67%.

Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. bought a new stake in KCAP Financial in the third quarter valued at $125,000. Citadel Advisors LLC grew its position in KCAP Financial by 55.8% in the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 14,879 shares during the period. Legal & General Group Plc grew its position in KCAP Financial by 8.6% in the second quarter. Legal & General Group Plc now owns 92,703 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 7,303 shares during the period. Finally, Ares Management LLC grew its position in KCAP Financial by 3.5% in the second quarter. Ares Management LLC now owns 160,322 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 5,487 shares during the period. Hedge funds and other institutional investors own 20.22% of the company’s stock.

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About KCAP Financial

KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).

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