Fifth Street Finance Corp. (FSC) Downgraded by Zacks Investment Research

Fifth Street Finance Corp. (NASDAQ:FSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’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. “

A number of other equities research analysts also recently weighed in on the company. TheStreet downgraded Fifth Street Finance Corp. from a “c-” rating to a “d+” rating in a report on Wednesday, June 14th. National Securities raised Fifth Street Finance Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.00 to $7.00 in a report on Tuesday, July 18th. Deutsche Bank AG raised Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.75 to $6.00 in a research note on Tuesday, July 18th. ValuEngine raised Fifth Street Finance Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $4.75 price target on shares of Fifth Street Finance Corp. in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.54.

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) traded down 0.89% during trading on Tuesday, hitting $5.55. 293,484 shares of the stock were exchanged. Fifth Street Finance Corp. has a 1-year low of $3.90 and a 1-year high of $5.91. The firm’s 50-day moving average is $5.45 and its 200 day moving average is $4.83.

Fifth Street Finance Corp. (NASDAQ:FSC) last posted its earnings results on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. The company had revenue of $44.92 million during the quarter, compared to the consensus estimate of $43.35 million. Analysts expect that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.

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In related news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $5.43, for a total value of $108,600.00. Following the completion of the transaction, the chief executive officer now owns 35,968 shares of the company’s stock, valued at $195,306.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FSC. Comerica Bank bought a new position in Fifth Street Finance Corp. in the first quarter valued at about $156,000. Karp Capital Management Corp bought a new position in Fifth Street Finance Corp. in the first quarter valued at about $204,000. Ameriprise Financial Inc. bought a new position in Fifth Street Finance Corp. in the first quarter valued at about $187,000. Oxford Asset Management bought a new position in Fifth Street Finance Corp. in the first quarter valued at about $303,000. Finally, Legal & General Group Plc grew its position in Fifth Street Finance Corp. by 3.6% in the first quarter. Legal & General Group Plc now owns 341,991 shares of the credit services provider’s stock valued at $1,578,000 after acquiring an additional 11,798 shares during the last quarter. Hedge funds and other institutional investors own 32.76% of the company’s stock.

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.

Analyst Recommendations for Fifth Street Finance Corp. (NASDAQ:FSC)

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