Fifth Street Finance Corp. (NASDAQ:FSC) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.55.

FSC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Fifth Street Finance Corp. in a research report on Thursday, March 30th. BMO Capital Markets restated a “hold” rating and issued a $4.00 price target on shares of Fifth Street Finance Corp. in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods set a $5.00 price target on Fifth Street Finance Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Finally, Deutsche Bank AG cut Fifth Street Finance Corp. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.50 to $4.75 in a research report on Monday, May 15th.

Fifth Street Finance Corp. (NASDAQ:FSC) traded up 0.97% during mid-day trading on Friday, hitting $4.17. 518,817 shares of the company traded hands. The company’s 50-day moving average price is $4.36 and its 200 day moving average price is $4.96. Fifth Street Finance Corp. has a one year low of $4.05 and a one year high of $6.32.

Fifth Street Finance Corp. (NASDAQ:FSC) last posted its quarterly earnings data on Wednesday, May 10th. The credit services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.02. The firm had revenue of $45.56 million for the quarter, compared to the consensus estimate of $50.76 million. Fifth Street Finance Corp. had a positive return on equity of 9.13% and a negative net margin of 33.22%. Analysts forecast that Fifth Street Finance Corp. will post $0.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.99%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Fifth Street Finance Corp.’s previous quarterly dividend of $0.02. Fifth Street Finance Corp.’s payout ratio is currently -130.91%.

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In other news, major shareholder Leonard M. Tannenbaum purchased 655,850 shares of the business’s stock in a transaction dated Monday, March 27th. The shares were purchased at an average cost of $4.67 per share, with a total value of $3,062,819.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Leonard M. Tannenbaum purchased 368,073 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were purchased at an average cost of $4.74 per share, for a total transaction of $1,744,666.02. Following the completion of the purchase, the insider now directly owns 15,512,816 shares of the company’s stock, valued at approximately $73,530,747.84. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 4,437,115 shares of company stock worth $20,253,230. Company insiders own 0.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in FSC. Global X Management Co. LLC raised its stake in shares of Fifth Street Finance Corp. by 51.4% in the first quarter. Global X Management Co. LLC now owns 21,651 shares of the credit services provider’s stock worth $100,000 after buying an additional 7,352 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Fifth Street Finance Corp. by 39.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 27,150 shares of the credit services provider’s stock worth $146,000 after buying an additional 7,706 shares during the last quarter. Founders Financial Securities LLC purchased a new stake in shares of Fifth Street Finance Corp. during the first quarter worth approximately $136,000. Comerica Bank purchased a new stake in shares of Fifth Street Finance Corp. during the first quarter worth approximately $156,000. Finally, Marquette Asset Management Inc. purchased a new stake in shares of Fifth Street Finance Corp. during the first quarter worth approximately $179,000. 32.17% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Street Finance Corp. Company Profile

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.

12 Month Chart for NASDAQ:FSC

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