KCAP Financial Inc (KCAP) Sees Significant Increase in Short Interest

KCAP Financial Inc (NASDAQ:KCAP) saw a large growth in short interest in the month of April. As of April 13th, there was short interest totalling 131,733 shares, a growth of 27.6% from the March 31st total of 103,259 shares. Based on an average daily volume of 269,905 shares, the days-to-cover ratio is currently 0.5 days.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of KCAP Financial from a “hold” rating to a “sell” rating in a report on Friday. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 price target on shares of KCAP Financial in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $4.00 price target on shares of KCAP Financial in a report on Friday, April 28th.

A number of large investors have recently added to or reduced their stakes in the company. Credit Suisse AG purchased a new stake in KCAP Financial during the first quarter valued at about $3,352,000. UBS Group AG boosted its stake in KCAP Financial by 23.1% in the first quarter. UBS Group AG now owns 925,447 shares of the financial services provider’s stock valued at $3,767,000 after buying an additional 173,888 shares during the last quarter. Ares Management LLC boosted its stake in KCAP Financial by 4.0% in the first quarter. Ares Management LLC now owns 154,835 shares of the financial services provider’s stock valued at $630,000 after buying an additional 6,000 shares during the last quarter. Legal & General Group Plc boosted its stake in KCAP Financial by 3.0% in the first quarter. Legal & General Group Plc now owns 85,400 shares of the financial services provider’s stock valued at $346,000 after buying an additional 2,505 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in KCAP Financial by 122.7% in the first quarter. Private Management Group Inc. now owns 940,067 shares of the financial services provider’s stock valued at $3,826,000 after buying an additional 517,978 shares during the last quarter. Hedge funds and other institutional investors own 15.64% of the company’s stock.

Shares of KCAP Financial (NASDAQ:KCAP) opened at 3.51 on Friday. The firm’s 50-day moving average is $3.75 and its 200-day moving average is $3.93. KCAP Financial has a one year low of $3.39 and a one year high of $4.89. The company has a market cap of $129.19 million, a PE ratio of 21.94 and a beta of 1.77.

KCAP Financial (NASDAQ:KCAP) last released its quarterly earnings data on Thursday, May 4th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. KCAP Financial had a positive return on equity of 9.57% and a negative net margin of 32.88%. The firm had revenue of $7.77 million for the quarter, compared to analyst estimates of $8.08 million. On average, equities analysts anticipate that KCAP Financial will post $0.40 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 13.68%. The ex-dividend date of this dividend was Wednesday, April 5th. KCAP Financial’s payout ratio is currently -141.17%.

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KCAP Financial Company Profile

KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).

12 Month Chart for NASDAQ:KCAP

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