FS Investment (FSIC) Cut to C+ at TheStreet

FS Investment (NYSE:FSIC) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Thursday.

A number of other research firms have also recently commented on FSIC. Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the stock a “hold” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded FS Investment from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, October 10th. BidaskClub upgraded FS Investment from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded FS Investment from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, National Securities restated a “neutral” rating and issued a $10.00 price target on shares of FS Investment in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $9.56.

Shares of FS Investment (FSIC) opened at $7.70 on Thursday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.74. FS Investment has a 52-week low of $7.32 and a 52-week high of $10.80. The company has a market capitalization of $1,879.80, a PE ratio of 8.56, a PEG ratio of 3.21 and a beta of 0.94.

FS Investment (NYSE:FSIC) last posted its earnings results on Thursday, November 9th. The financial services provider reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. The business had revenue of $103.69 million for the quarter, compared to analysts’ expectations of $97.03 million. research analysts forecast that FS Investment will post 0.8 EPS for the current fiscal year.

In other FS Investment news, Director Michael J. Hagan acquired 30,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $7.84 per share, with a total value of $235,200.00. Following the acquisition, the director now owns 70,000 shares of the company’s stock, valued at $548,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael C. Forman acquired 16,531 shares of the stock in a transaction on Thursday, December 28th. The stock was acquired at an average cost of $7.46 per share, for a total transaction of $123,321.26. The disclosure for this purchase can be found here. Insiders purchased a total of 107,512 shares of company stock worth $816,937 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in FS Investment by 3.6% in the 2nd quarter. Advisory Services Network LLC now owns 11,577 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 400 shares in the last quarter. Shelton Capital Management purchased a new stake in FS Investment in the 2nd quarter valued at approximately $111,000. Lakeview Capital Partners LLC purchased a new stake in FS Investment in the 3rd quarter valued at approximately $108,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FS Investment in the 2nd quarter valued at approximately $135,000. Finally, Regal Investment Advisors LLC purchased a new stake in FS Investment in the 3rd quarter valued at approximately $130,000. 32.36% of the stock is currently owned by institutional investors.

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About FS Investment

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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