Insider Buying: FS Investment Co. (FSIC) Director Buys 4,500 Shares of Stock
FS Investment Co. (NYSE:FSIC) Director Thomas Gravina purchased 4,500 shares of FS Investment stock in a transaction that occurred on Thursday, January 4th. The shares were bought at an average cost of $7.66 per share, with a total value of $34,470.00. Following the completion of the transaction, the director now directly owns 42,300 shares of the company’s stock, valued at approximately $324,018. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Thomas Gravina also recently made the following trade(s):
- On Tuesday, January 2nd, Thomas Gravina purchased 5,000 shares of FS Investment stock. The shares were bought at an average cost of $7.54 per share, with a total value of $37,700.00.
Shares of FS Investment Co. (FSIC) traded up $0.10 during midday trading on Friday, hitting $7.70. The stock had a trading volume of 2,767,529 shares, compared to its average volume of 2,350,600. The company has a market capitalization of $1,870.00, a price-to-earnings ratio of 8.65, a P/E/G ratio of 3.21 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12. FS Investment Co. has a one year low of $7.32 and a one year high of $10.80.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.87%. The ex-dividend date was Tuesday, December 19th. FS Investment’s dividend payout ratio is presently 85.39%.
FSIC has been the subject of several recent research reports. ValuEngine raised FS Investment from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research cut FS Investment from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. National Securities reissued a “neutral” rating and set a $10.00 price target on shares of FS Investment in a research report on Monday, November 13th. BidaskClub lowered FS Investment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price objective on FS Investment and gave the company a “hold” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.56.
Several hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC acquired a new stake in shares of FS Investment in the 3rd quarter valued at $132,000. Cetera Investment Advisers boosted its holdings in shares of FS Investment by 886.3% during the 3rd quarter. Cetera Investment Advisers now owns 152,702 shares of the financial services provider’s stock valued at $1,297,000 after acquiring an additional 137,220 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in FS Investment by 231.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 32,206 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 22,481 shares during the last quarter. Neuberger Berman Group LLC raised its position in FS Investment by 13.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 443,360 shares of the financial services provider’s stock worth $3,746,000 after purchasing an additional 53,110 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in FS Investment by 10.2% during the 3rd quarter. California Public Employees Retirement System now owns 539,400 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 49,900 shares during the last quarter. 32.36% of the stock is currently owned by hedge funds and other institutional investors.
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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