KCAP Financial (KCAP) Cut to “Sell” at Zacks Investment Research

KCAP Financial (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, March 15th.

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. “

KCAP stock traded down $0.02 during trading on Thursday, hitting $3.10. 56,774 shares of the stock traded hands, compared to its average volume of 109,342. The stock has a market cap of $115.43, a PE ratio of 34.67 and a beta of 1.62. KCAP Financial has a fifty-two week low of $2.91 and a fifty-two week high of $4.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.20 and a current ratio of 0.20.

KCAP Financial (NASDAQ:KCAP) last issued its quarterly earnings data on Wednesday, March 7th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The business had revenue of $6.58 million during the quarter. KCAP Financial had a return on equity of 5.90% and a net margin of 11.99%. research analysts anticipate that KCAP Financial will post 0.29 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Private Management Group Inc. raised its position in KCAP Financial by 53.0% in the fourth quarter. Private Management Group Inc. now owns 1,637,110 shares of the financial services provider’s stock worth $5,583,000 after purchasing an additional 566,865 shares in the last quarter. Ares Management LLC grew its stake in KCAP Financial by 8.3% during the fourth quarter. Ares Management LLC now owns 324,778 shares of the financial services provider’s stock worth $1,107,000 after buying an additional 25,000 shares during the last quarter. Macquarie Group Ltd. bought a new stake in KCAP Financial during the third quarter worth about $125,000. Finally, Citadel Advisors LLC grew its stake in KCAP Financial by 55.8% during the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock worth $152,000 after buying an additional 14,879 shares during the last quarter. 23.21% of the stock is owned by hedge funds and other 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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