Fifth Street Finance Corp. (FSC) Upgraded to Buy by BidaskClub
BidaskClub upgraded shares of Fifth Street Finance Corp. (NASDAQ:FSC) from a hold rating to a buy rating in a research note released on Wednesday.
Several other research firms have also issued reports on FSC. JMP Securities upgraded shares of Fifth Street Finance Corp. from a market perform rating to an outperform rating and set a $6.50 price target on the stock in a research report on Monday, July 17th. Maxim Group restated a hold rating on shares of Fifth Street Finance Corp. in a research report on Thursday, August 10th. Deutsche Bank AG upgraded shares of Fifth Street Finance Corp. from a hold rating to a buy rating and raised their price target for the stock from $4.75 to $6.00 in a research report on Tuesday, July 18th. TheStreet upgraded shares of Fifth Street Finance Corp. from a d+ rating to a c rating in a research report on Wednesday, September 6th. Finally, ValuEngine lowered shares of Fifth Street Finance Corp. from a strong-buy rating to a buy rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Fifth Street Finance Corp. currently has a consensus rating of Hold and a consensus price target of $5.54.
Shares of Fifth Street Finance Corp. (NASDAQ FSC) traded up 1.81% during mid-day trading on Wednesday, reaching $5.62. 897,394 shares of the company were exchanged. Fifth Street Finance Corp. has a 12 month low of $3.90 and a 12 month high of $5.91. The firm’s 50-day moving average is $5.43 and its 200-day moving average is $4.80.
Fifth Street Finance Corp. (NASDAQ:FSC) last posted its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $44.92 million for the quarter, compared to analyst estimates of $43.35 million. Fifth Street Finance Corp. had a negative net margin of 37.21% and a positive return on equity of 8.27%. Analysts predict that Fifth Street Finance Corp. will post $0.56 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 annualized dividend and a dividend yield of 8.90%. Fifth Street Finance Corp.’s dividend payout ratio (DPR) is currently -288.46%.
In related news, CEO Bernard D. Berman sold 20,000 shares of Fifth Street Finance Corp. stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $5.43, for a total transaction of $108,600.00. Following the completion of the transaction, the chief executive officer now directly owns 35,968 shares of the company’s stock, valued at approximately $195,306.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FSC. Comerica Bank bought a new position in Fifth Street Finance Corp. during the 1st quarter valued at about $156,000. Karp Capital Management Corp bought a new position in Fifth Street Finance Corp. during the 1st quarter valued at about $204,000. Ameriprise Financial Inc. bought a new position in Fifth Street Finance Corp. during the 1st quarter valued at about $187,000. Oxford Asset Management bought a new position in Fifth Street Finance Corp. during the 1st quarter valued at about $303,000. Finally, Legal & General Group Plc lifted its holdings in Fifth Street Finance Corp. by 3.6% during the 1st quarter. Legal & General Group Plc now owns 341,991 shares of the credit services provider’s stock valued at $1,578,000 after purchasing an additional 11,798 shares during the last quarter. 32.76% of the stock is owned by hedge funds and other institutional investors.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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