Ocean Park Asset Management LLC Buys New Position in FS KKR Capital Corp. $FSK

Ocean Park Asset Management LLC acquired a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 105,371 shares of the company’s stock, valued at approximately $1,072,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC increased its holdings in shares of FS KKR Capital by 3.4% during the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock worth $476,000 after buying an additional 720 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of FS KKR Capital by 13.7% in the first quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock worth $5,612,000 after buying an additional 32,258 shares during the period. Empowered Funds LLC grew its stake in shares of FS KKR Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after buying an additional 15,596 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of FS KKR Capital in the second quarter valued at about $1,806,000. Finally, Nebula Research & Development LLC raised its holdings in shares of FS KKR Capital by 83.1% during the 2nd quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock valued at $420,000 after buying an additional 9,183 shares during the period. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Trading Up 0.0%

Shares of NYSE:FSK opened at $10.28 on Monday. The firm has a market cap of $2.88 billion, a P/E ratio of -5.22 and a beta of 0.83. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $22.68. The company has a 50 day moving average of $10.81 and a 200-day moving average of $12.27.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The firm’s revenue for the quarter was down 24.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, analysts anticipate that FS KKR Capital Corp. will post 1.66 earnings per share for the current fiscal year.

FS KKR Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be given a $0.42 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.68 annualized dividend and a yield of 16.4%. FS KKR Capital’s payout ratio is -85.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FSK shares. Truist Financial reduced their price target on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Wells Fargo & Company dropped their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. B. Riley Financial cut their price objective on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Finally, Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $10.58.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.