Kovack Advisors Inc. Reduces Position in FS KKR Capital Corp. (NYSE:FSK)

Kovack Advisors Inc. lowered its holdings in FS KKR Capital Corp. (NYSE:FSK) by 4.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,296 shares of the company’s stock after selling 5,884 shares during the period. Kovack Advisors Inc.’s holdings in FS KKR Capital were worth $2,610,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of FS KKR Capital by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 5,747,770 shares of the company’s stock valued at $117,886,000 after buying an additional 356,704 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in FS KKR Capital by 4.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,282,146 shares of the company’s stock worth $84,487,000 after acquiring an additional 188,542 shares in the last quarter. LPL Financial LLC increased its position in shares of FS KKR Capital by 1.8% in the 2nd quarter. LPL Financial LLC now owns 3,352,328 shares of the company’s stock worth $66,141,000 after purchasing an additional 59,240 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of FS KKR Capital by 1,967.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,165,817 shares of the company’s stock worth $62,462,000 after purchasing an additional 3,012,711 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of FS KKR Capital by 21.0% in the 1st quarter. Kestra Advisory Services LLC now owns 1,218,960 shares of the company’s stock valued at $23,411,000 after purchasing an additional 211,961 shares in the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $20.00 price objective on shares of FS KKR Capital in a report on Wednesday, August 14th. Wells Fargo & Company lowered their price target on FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.94.

FS KKR Capital Stock Performance

NYSE:FSK traded up $0.15 during midday trading on Wednesday, reaching $21.16. 140,546 shares of the company traded hands, compared to its average volume of 1,410,559. FS KKR Capital Corp. has a twelve month low of $18.31 and a twelve month high of $21.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.96 and a quick ratio of 2.96. The company has a fifty day moving average price of $20.13 and a 200 day moving average price of $19.98. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 11.17 and a beta of 1.25.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $441.00 million for the quarter, compared to analysts’ expectations of $423.58 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. During the same quarter last year, the company earned $0.80 EPS. On average, analysts expect that FS KKR Capital Corp. will post 2.88 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from FS KKR Capital’s previous None dividend of $0.64. This represents a dividend yield of 12.7%. FS KKR Capital’s payout ratio is currently 136.17%.

Insider Buying and Selling

In other FS KKR Capital news, CEO Michael C. Forman sold 195,139 shares of FS KKR Capital stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $19.56, for a total transaction of $3,816,918.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

FS KKR Capital Profile

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.