Fifth Street Finance Corp. (NASDAQ:FSC) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 613,474 shares, a drop of 30.1% from the August 15th total of 877,559 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 669,739 shares, the days-to-cover ratio is presently 0.9 days.

Several research analysts have recently commented on FSC shares. National Securities raised shares of Fifth Street Finance Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $7.00 in a research note on Tuesday, July 18th. Deutsche Bank AG raised shares of Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.75 to $6.00 in a research note on Tuesday, July 18th. TheStreet raised shares of Fifth Street Finance Corp. from a “d+” rating to a “c” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, BidaskClub raised shares of Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.68.

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of Fifth Street Finance Corp. by 28.4% in the 1st quarter. Van ECK Associates Corp now owns 927,017 shares of the credit services provider’s stock valued at $4,283,000 after purchasing an additional 205,284 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Fifth Street Finance Corp. by 17.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 205,800 shares of the credit services provider’s stock valued at $951,000 after purchasing an additional 30,086 shares in the last quarter. Oxford Asset Management acquired a new position in shares of Fifth Street Finance Corp. in the 1st quarter valued at approximately $303,000. Trexquant Investment LP raised its position in shares of Fifth Street Finance Corp. by 84.4% in the 1st quarter. Trexquant Investment LP now owns 82,710 shares of the credit services provider’s stock valued at $382,000 after purchasing an additional 37,860 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in shares of Fifth Street Finance Corp. by 3.6% in the 1st quarter. Gabelli Funds LLC now owns 312,704 shares of the credit services provider’s stock valued at $1,445,000 after purchasing an additional 10,788 shares in the last quarter. 32.76% of the stock is currently owned by institutional investors.

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) opened at 5.32 on Friday. The company has a 50-day moving average of $5.40 and a 200 day moving average of $4.71. Fifth Street Finance Corp. has a one year low of $3.90 and a one year high of $5.95.

Fifth Street Finance Corp. (NASDAQ:FSC) last released its quarterly 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. The firm had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $43.35 million. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. Equities research analysts predict that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date is Thursday, December 14th. Fifth Street Finance Corp.’s payout ratio is -288.46%.

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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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