Fifth Street Finance Corp. (FSC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Fifth Street Finance Corp. (NASDAQ:FSC) have earned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.55.
FSC has been the topic of a number of analyst reports. BMO Capital Markets restated a “hold” rating and issued a $4.00 price objective on shares of Fifth Street Finance Corp. in a report on Tuesday, April 11th. Zacks Investment Research lowered shares of Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Deutsche Bank AG lowered shares of Fifth Street Finance Corp. from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.50 to $4.75 in a research note on Monday, May 15th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Fifth Street Finance Corp. in a research note on Thursday, March 30th. Finally, National Securities reiterated a “neutral” rating and set a $4.00 price target on shares of Fifth Street Finance Corp. in a research note on Monday, May 15th.
In related news, major shareholder Leonard M. Tannenbaum purchased 477,484 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were purchased at an average cost of $4.64 per share, for a total transaction of $2,215,525.76. Following the purchase, the insider now directly owns 14,976,872 shares of the company’s stock, valued at $69,492,686.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leonard M. Tannenbaum purchased 655,850 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were bought at an average price of $4.67 per share, for a total transaction of $3,062,819.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,501,407 shares of company stock worth $7,023,011 over the last quarter. 0.12% of the stock is owned by company insiders.
A number of large investors 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 valued at $100,000 after buying an additional 7,352 shares in the last quarter. Founders Financial Securities LLC acquired a new position in Fifth Street Finance Corp. during the first quarter worth approximately $136,000. First Allied Advisory Services Inc. raised its position in 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 in the last quarter. Comerica Bank acquired a new position in Fifth Street Finance Corp. during the first quarter worth approximately $156,000. Finally, Marquette Asset Management Inc. acquired a new position in Fifth Street Finance Corp. during the first quarter worth approximately $179,000. Hedge funds and other institutional investors own 29.94% of the company’s stock.
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Shares of Fifth Street Finance Corp. (NASDAQ FSC) traded up 0.76% during trading on Tuesday, reaching $4.00. 534,042 shares of the company were exchanged. Fifth Street Finance Corp. has a 1-year low of $3.93 and a 1-year high of $6.32. The firm has a 50-day moving average price of $4.18 and a 200-day moving average price of $4.76.
Fifth Street Finance Corp. (NASDAQ:FSC) last announced its quarterly earnings data on Wednesday, May 10th. The credit services provider reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.02. Fifth Street Finance Corp. had a negative net margin of 33.60% and a positive return on equity of 8.83%. The firm had revenue of $45.56 million during the quarter, compared to analyst estimates of $50.76 million. Equities analysts forecast that Fifth Street Finance Corp. will post $0.57 EPS for the current year.
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.
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