KCAP Financial (NASDAQ:KCAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $3.75 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.33% from the company’s previous close.
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. “
A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $3.50 price objective on shares of KCAP Financial in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services started coverage on KCAP Financial in a research note on Monday, September 25th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $7.75.
KCAP Financial (NASDAQ:KCAP) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $6.25 million for the quarter, compared to analyst estimates of $6.80 million. KCAP Financial had a net margin of 7.78% and a return on equity of 6.54%. analysts forecast that KCAP Financial will post 0.29 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new position in shares of KCAP Financial in the third quarter worth approximately $125,000. Citadel Advisors LLC lifted its stake in shares of KCAP Financial by 55.8% in the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 14,879 shares during the period. Legal & General Group Plc lifted its stake in shares of KCAP Financial by 8.6% in the second quarter. Legal & General Group Plc now owns 92,703 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 7,303 shares during the period. Finally, Ares Management LLC lifted its stake in shares of KCAP Financial by 3.5% in the second quarter. Ares Management LLC now owns 160,322 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 5,487 shares during the period. 20.22% of the stock is currently owned by institutional investors.
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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).
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