FS Investment Co. (NYSE:FSIC) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,532,808 shares, an increase of 109.9% from the September 28th total of 730,260 shares. Based on an average trading volume of 1,497,879 shares, the short-interest ratio is currently 1.0 days. Approximately 0.6% of the company’s stock are sold short.
A number of institutional investors have recently added to or reduced their stakes in FSIC. Bank of Montreal Can bought a new position in FS Investment in the second quarter valued at $23,542,000. Centaurus Financial Inc. grew its position in FS Investment by 617.9% in the second quarter. Centaurus Financial Inc. now owns 397,170 shares of the financial services provider’s stock valued at $2,919,000 after purchasing an additional 341,846 shares in the last quarter. Acadian Asset Management LLC grew its position in FS Investment by 453.6% in the third quarter. Acadian Asset Management LLC now owns 400,391 shares of the financial services provider’s stock valued at $2,823,000 after purchasing an additional 328,060 shares in the last quarter. DnB Asset Management AS bought a new position in FS Investment in the second quarter valued at $1,978,000. Finally, Alps Advisors Inc. bought a new position in FS Investment in the third quarter valued at $1,733,000. 29.01% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on FSIC. Keefe, Bruyette & Woods restated a “hold” rating and set a $8.00 price objective on shares of FS Investment in a report on Friday, August 10th. Wells Fargo & Co upgraded shares of FS Investment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 24th. Zacks Investment Research lowered shares of FS Investment from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. National Securities raised their price objective on shares of FS Investment from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, ValuEngine lowered shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $8.92.
FS Investment (NYSE:FSIC) last released its earnings results on Thursday, August 9th. The financial services provider reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $95.58 million during the quarter, compared to the consensus estimate of $98.53 million. FS Investment had a net margin of 19.88% and a return on equity of 8.96%. On average, research analysts anticipate that FS Investment will post 0.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Wednesday, September 19th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 12.10%. The ex-dividend date of this dividend was Tuesday, September 18th. FS Investment’s dividend payout ratio (DPR) is currently 91.57%.
FS Investment Company Profile
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
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