KCAP Financial Inc. (KCAP) Stock Rating Lowered by Zacks Investment Research
KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “
Separately, TheStreet raised shares of KCAP Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Five research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $4.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/kcap-financial-inc-kcap-stock-rating-lowered-by-zacks-investment-research.html
Shares of KCAP Financial (NASDAQ:KCAP) traded down 1.67% during trading on Wednesday, hitting $4.72. 171,529 shares of the stock traded hands. The firm has a 50-day moving average of $4.49 and a 200-day moving average of $3.90. The firm’s market capitalization is $173.32 million. KCAP Financial has a 1-year low of $2.62 and a 1-year high of $5.23.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 12.71%. The ex-dividend date is Wednesday, October 12th. KCAP Financial’s payout ratio is currently -71.43%.
Several institutional investors have recently added to or reduced their stakes in KCAP. UBS Group AG increased its position in KCAP Financial by 17.1% in the first quarter. UBS Group AG now owns 723,108 shares of the company’s stock valued at $2,603,000 after buying an additional 105,633 shares during the last quarter. Diversified Trust Co increased its position in KCAP Financial by 4.0% in the second quarter. Diversified Trust Co now owns 194,003 shares of the company’s stock valued at $760,000 after buying an additional 7,439 shares during the last quarter. Franklin Resources Inc. increased its position in KCAP Financial by 4.5% in the first quarter. Franklin Resources Inc. now owns 734,225 shares of the company’s stock valued at $2,643,000 after buying an additional 31,647 shares during the last quarter. KCG Holdings Inc. acquired a new position in KCAP Financial during the second quarter valued at about $105,000. Finally, Nuveen Fund Advisors LLC acquired a new position in KCAP Financial during the second quarter valued at about $366,000. 15.54% of the stock is owned by hedge funds and other institutional investors.
About KCAP Financial
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KCAP Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KCAP Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.