FS Investment (FSIC) Downgraded by TheStreet

TheStreet lowered shares of FS Investment (NYSE:FSIC) from a b- rating to a c+ rating in a research note released on Thursday.

Several other research firms have also recently weighed in on FSIC. Zacks Investment Research raised FS Investment from a hold rating to a strong-buy rating and set a $10.00 price target for the company in a report on Tuesday, October 10th. National Securities raised FS Investment from a neutral rating to a buy rating in a report on Friday, December 15th. ValuEngine raised FS Investment from a hold rating to a buy rating in a report on Friday, December 1st. BidaskClub raised FS Investment from a strong sell rating to a sell rating in a report on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods set a $9.00 price objective on FS Investment and gave the company a hold rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $9.56.

Shares of FS Investment (FSIC) opened at $7.70 on Thursday. The firm has a market capitalization of $1,892.08, a P/E ratio of 8.56, a P/E/G ratio of 3.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12. FS Investment has a fifty-two week low of $7.32 and a fifty-two week high of $10.80.

FS Investment (NYSE:FSIC) last released its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $103.69 million during the quarter, compared to analysts’ expectations of $97.03 million. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. analysts predict that FS Investment will post 0.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 19th. This represents a $0.76 annualized dividend and a yield of 9.87%. FS Investment’s dividend payout ratio is presently 84.45%.

In other FS Investment news, CEO Michael C. Forman purchased 16,531 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were bought at an average price of $7.46 per share, for a total transaction of $123,321.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael C. Forman purchased 6,600 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was acquired at an average price of $7.49 per share, for a total transaction of $49,434.00. The disclosure for this purchase can be found here. Insiders acquired a total of 107,512 shares of company stock valued at $816,937 over the last ninety days. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FSIC. Bank of New York Mellon Corp increased its stake in shares of FS Investment by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,724 shares of the financial services provider’s stock valued at $2,330,000 after purchasing an additional 5,104 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of FS Investment by 1,053.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 144,136 shares of the financial services provider’s stock valued at $1,319,000 after purchasing an additional 131,638 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of FS Investment by 139.3% in the 2nd quarter. CIBC World Markets Inc. now owns 115,649 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 67,319 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of FS Investment by 2.4% in the 2nd quarter. Alliancebernstein L.P. now owns 361,117 shares of the financial services provider’s stock valued at $3,304,000 after purchasing an additional 8,370 shares during the last quarter. Finally, Capital Fund Management S.A. increased its stake in shares of FS Investment by 49.4% in the 2nd quarter. Capital Fund Management S.A. now owns 102,035 shares of the financial services provider’s stock valued at $934,000 after purchasing an additional 33,735 shares during the last quarter. Institutional investors own 32.36% of the company’s stock.

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About FS Investment

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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