Capital Fund Management S.A. increased its position in shares of FS Investment Corporation (NYSE:FSIC) by 49.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,035 shares of the financial services provider’s stock after acquiring an additional 33,735 shares during the quarter. Capital Fund Management S.A.’s holdings in FS Investment Corporation were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in FSIC. BDO Wealth Advisors LLC acquired a new position in shares of FS Investment Corporation during the 2nd quarter valued at about $103,000. Wayne Hummer Investments L.L.C. acquired a new position in shares of FS Investment Corporation during the 1st quarter valued at about $112,000. JPMorgan Chase & Co. acquired a new position in shares of FS Investment Corporation during the 1st quarter valued at about $122,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of FS Investment Corporation by 2.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 362 shares during the last quarter. Finally, First Financial Equity Corporation acquired a new position in shares of FS Investment Corporation during the 1st quarter valued at about $177,000. 32.49% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently weighed in on the stock. ValuEngine cut shares of FS Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. National Securities reissued a “neutral” rating and set a $10.00 price target on shares of FS Investment Corporation in a research report on Monday, August 14th. BidaskClub cut shares of FS Investment Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of FS Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $10.00 price target on shares of FS Investment Corporation in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.00.
In other FS Investment Corporation news, CEO Michael C. Forman purchased 22,320 shares of the stock in a transaction on Thursday, June 22nd. The stock was bought at an average price of $8.88 per share, for a total transaction of $198,201.60. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael C. Forman purchased 17,100 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $8.41 per share, with a total value of $143,811.00. The disclosure for this purchase can be found here. Insiders acquired a total of 56,855 shares of company stock valued at $494,554 in the last 90 days. 1.00% of the stock is owned by company insiders.
FS Investment Corporation (NYSE:FSIC) opened at 8.25 on Friday. FS Investment Corporation has a 12 month low of $8.02 and a 12 month high of $10.80. The stock’s 50 day moving average is $8.47 and its 200 day moving average is $9.20.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $103.14 million. FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. Equities research analysts anticipate that FS Investment Corporation will post $0.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th will be issued a $0.2228 dividend. This represents a $0.89 annualized dividend and a yield of 10.80%. The ex-dividend date is Tuesday, September 19th. FS Investment Corporation’s dividend payout ratio (DPR) is 87.26%.
FS Investment Corporation Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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