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

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

Analyst Ratings Changes

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

FS KKR Capital Stock Up 0.2 %

FS KKR Capital stock traded up $0.05 during midday trading on Friday, reaching $21.16. The company’s stock had a trading volume of 1,437,581 shares, compared to its average volume of 1,243,371. FS KKR Capital has a 52-week low of $18.31 and a 52-week high of $21.30. The stock has a market capitalization of $5.93 billion, a P/E ratio of 11.26 and a beta of 1.25. 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 stock’s 50-day simple moving average is $20.21 and its 200-day simple moving average is $20.02.

FS KKR Capital (NYSE:FSK) last released its earnings results on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $441.00 million during 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 period last year, the business earned $0.80 EPS. On average, sell-side analysts expect that FS KKR Capital will post 2.89 EPS for the current year.

FS KKR Capital Increases Dividend

The company also recently announced 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. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. The ex-dividend date is Wednesday, December 4th. This represents a yield of 12.7%. FS KKR Capital’s dividend payout ratio (DPR) is 136.17%.

Institutional Trading of FS KKR Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of FS KKR Capital during the 2nd quarter valued at about $30,000. Ridgewood Investments LLC acquired a new position in shares of FS KKR Capital during the 2nd quarter worth about $37,000. Rothschild Investment LLC purchased a new position in shares of FS KKR Capital in the second quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. boosted its stake in FS KKR Capital by 198.7% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock worth $42,000 after purchasing an additional 1,421 shares during the last quarter. Finally, New Millennium Group LLC purchased a new stake in FS KKR Capital during the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

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.