FS KKR Capital Corp. (NYSE:FSK) Sees Large Decrease in Short Interest

FS KKR Capital Corp. (NYSE:FSK) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,350,000 shares, a decrease of 19.1% from the October 15th total of 4,140,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 2.7 days. Currently, 1.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have commented on FSK. Wells Fargo & Company cut their target price on FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada restated a “sector perform” rating and set a $20.00 target price on shares of FS KKR Capital in a report on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.94.

Institutional Investors Weigh In On FS KKR Capital

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in FS KKR Capital in the 1st quarter valued at $1,122,000. ProShare Advisors LLC grew its stake in shares of FS KKR Capital by 15.8% in the first quarter. ProShare Advisors LLC now owns 39,461 shares of the company’s stock valued at $753,000 after acquiring an additional 5,377 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in FS KKR Capital by 47.4% during the first quarter. Orion Portfolio Solutions LLC now owns 62,938 shares of the company’s stock worth $1,200,000 after acquiring an additional 20,230 shares during the period. Partners Group Holding AG raised its stake in FS KKR Capital by 8.6% in the 1st quarter. Partners Group Holding AG now owns 292,259 shares of the company’s stock worth $5,573,000 after purchasing an additional 23,062 shares in the last quarter. Finally, Rockport Wealth LLC bought a new stake in FS KKR Capital in the 1st quarter valued at about $280,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Stock Performance

NYSE:FSK traded up $0.05 during mid-day trading on Friday, hitting $21.16. The stock had a trading volume of 1,437,581 shares, compared to its average volume of 1,243,371. The company’s 50 day simple moving average is $20.21 and its 200 day simple moving average is $20.02. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 11.26 and a beta of 1.25. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96. FS KKR Capital has a twelve month low of $18.31 and a twelve month high of $21.30.

FS KKR Capital (NYSE:FSK) last posted its earnings results 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. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The business had revenue of $441.00 million for the quarter, compared to analyst estimates of $423.58 million. During the same period in the previous year, the firm earned $0.80 EPS. On average, equities research analysts forecast that FS KKR Capital will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently declared a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a yield of 12.7%. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s dividend payout ratio is 136.17%.

About FS KKR Capital

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.