FS Investment (FSIC) Rating Lowered to Sell at Zacks Investment Research

FS Investment (NYSE:FSIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “

Several other equities analysts have also recently commented on the stock. TheStreet cut shares of FS Investment from a “b-” rating to a “c+” rating in a research report on Thursday, January 11th. ValuEngine lowered shares of FS Investment from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. National Securities upgraded shares of FS Investment from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, BidaskClub lowered shares of FS Investment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.42.

Shares of FS Investment (NYSE FSIC) traded down $0.05 during trading on Thursday, reaching $7.25. The company’s stock had a trading volume of 1,773,473 shares, compared to its average volume of 1,624,267. 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 has a 52-week low of $7.05 and a 52-week high of $10.80. The firm has a market cap of $1,781.51, a P/E ratio of 8.06, a P/E/G ratio of 3.11 and a beta of 0.93.

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

In other news, CEO Michael C. Forman acquired 16,531 shares of the stock in a transaction dated Thursday, December 28th. The stock was purchased at an average cost of $7.46 per share, with a total value of $123,321.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Gravina acquired 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were purchased at an average cost of $7.54 per share, with a total value of $37,700.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $301,600. The disclosure for this purchase can be found here. Insiders acquired 178,572 shares of company stock valued at $1,342,257 over the last three months. 1.07% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in FS Investment by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 254,724 shares of the financial services provider’s stock worth $2,330,000 after acquiring an additional 5,104 shares during the period. JPMorgan Chase & Co. lifted its position in shares of FS Investment by 1,053.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 144,136 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 131,638 shares during the period. California Public Employees Retirement System lifted its position in shares of FS Investment by 5.4% during the 2nd quarter. California Public Employees Retirement System now owns 489,500 shares of the financial services provider’s stock worth $4,479,000 after buying an additional 25,100 shares during the period. Virtu KCG Holdings LLC bought a new position in shares of FS Investment during the 2nd quarter worth approximately $184,000. Finally, Shelton Capital Management bought a new position in shares of FS Investment during the 2nd quarter worth approximately $111,000. 32.19% of the stock is owned by hedge funds and other 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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