Sunbelt Securities Inc. boosted its position in FS Investment (NYSE:FSIC) by 232.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 44,434 shares of the financial services provider’s stock after acquiring an additional 31,052 shares during the period. Sunbelt Securities Inc.’s holdings in FS Investment were worth $322,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FSIC. Millennium Management LLC grew its stake in shares of FS Investment by 9,310.6% during the 4th quarter. Millennium Management LLC now owns 3,158,473 shares of the financial services provider’s stock valued at $23,215,000 after buying an additional 3,124,910 shares during the period. LexAurum Advisors LLC grew its stake in shares of FS Investment by 670.0% during the 1st quarter. LexAurum Advisors LLC now owns 1,851,129 shares of the financial services provider’s stock valued at $240,000 after buying an additional 1,610,723 shares during the period. Two Sigma Advisers LP grew its stake in shares of FS Investment by 452.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,418,955 shares of the financial services provider’s stock valued at $10,429,000 after buying an additional 1,161,955 shares during the period. Two Sigma Investments LP grew its stake in shares of FS Investment by 142.7% during the 4th quarter. Two Sigma Investments LP now owns 1,546,908 shares of the financial services provider’s stock valued at $11,370,000 after buying an additional 909,539 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of FS Investment by 970.2% during the 4th quarter. Citadel Advisors LLC now owns 629,118 shares of the financial services provider’s stock valued at $4,624,000 after buying an additional 570,335 shares during the period. 32.58% of the stock is owned by hedge funds and other institutional investors.
In other FS Investment news, Director Barry Frank purchased 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average cost of $7.43 per share, with a total value of $40,865.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Gerson acquired 15,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average price of $7.30 per share, for a total transaction of $109,500.00. Following the acquisition, the insider now directly owns 15,000 shares in the company, valued at $109,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 44,805 shares of company stock valued at $323,229. 1.07% of the stock is owned by corporate insiders.
Shares of FS Investment opened at $7.90 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.69 and a quick ratio of 2.69. FS Investment has a twelve month low of $6.95 and a twelve month high of $9.40. The firm has a market cap of $1.92 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 3.56 and a beta of 0.88.
FS Investment (NYSE:FSIC) last announced its quarterly earnings results on Thursday, May 10th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. FS Investment had a net margin of 31.75% and a return on equity of 8.84%. The firm had revenue of $101.02 million during the quarter, compared to analysts’ expectations of $97.22 million. sell-side analysts expect that FS Investment will post 0.74 earnings per share for the current year.
FS Investment declared that its Board of Directors has approved a share repurchase program on Thursday, March 1st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Wednesday, June 20th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, June 19th. This represents a $0.76 dividend on an annualized basis and a yield of 9.62%. FS Investment’s dividend payout ratio (DPR) is 91.57%.
Several analysts have recently issued reports on FSIC shares. ValuEngine cut shares of FS Investment from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of FS Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the company a “hold” rating in a research note on Friday, March 2nd. Finally, National Securities reissued a “buy” rating and set a $10.00 price objective on shares of FS Investment in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.17.
FS Investment Profile
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
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