FS Investment (FSIC) Hits New 12-Month Low at $7.60

Shares of FS Investment Corporation (NYSE:FSIC) reached a new 52-week low on Tuesday . The stock traded as low as $7.60 and last traded at $7.85, with a volume of 2823200 shares traded. The stock had previously closed at $7.85.

Several research firms have weighed in on FSIC. Zacks Investment Research downgraded shares of FS Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. ValuEngine upgraded shares of FS Investment from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the company a “hold” rating in a research note on Thursday, October 5th. National Securities restated a “neutral” rating and set a $10.00 price objective on shares of FS Investment in a research note on Monday, November 13th. Finally, BidaskClub cut shares of FS Investment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.56.

The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1,928.94, a P/E ratio of 9.24, a P/E/G ratio of 3.27 and a beta of 0.95.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.68%. The ex-dividend date is Tuesday, December 19th. FS Investment’s payout ratio is 98.89%.

In other FS Investment news, Director Michael J. Hagan acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $7.84 per share, for a total transaction of $235,200.00. Following the purchase, the director now owns 70,000 shares in the company, valued at approximately $548,800. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of FS Investment by 12.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 630,005 shares of the financial services provider’s stock valued at $5,702,000 after purchasing an additional 70,315 shares during the period. Commerce Bank acquired a new position in shares of FS Investment in the 2nd quarter valued at $3,213,000. JPMorgan Chase & Co. lifted 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 period. Koch Industries Inc. lifted its stake in shares of FS Investment by 737.1% in the 2nd quarter. Koch Industries Inc. now owns 300,044 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 264,201 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of FS Investment by 9.9% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,065,607 shares of the financial services provider’s stock valued at $9,004,000 after purchasing an additional 95,645 shares during the period. Hedge funds and other institutional investors own 32.36% of the company’s stock.

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FS Investment Company Profile

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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