Cornerstone Wealth Management LLC Cuts Stake in FS KKR Capital Corp. (NYSE:FSK)

Cornerstone Wealth Management LLC cut its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,809 shares of the company’s stock after selling 2,683 shares during the period. Cornerstone Wealth Management LLC’s holdings in FS KKR Capital were worth $495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. McIlrath & Eck LLC increased its position in FS KKR Capital by 47.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,096 shares of the company’s stock valued at $41,000 after buying an additional 675 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of FS KKR Capital during the fourth quarter valued at about $52,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in FS KKR Capital by 122.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,760 shares of the company’s stock worth $60,000 after purchasing an additional 1,520 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in FS KKR Capital by 164.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 6,016 shares of the company’s stock worth $119,000 after purchasing an additional 3,744 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in FS KKR Capital by 14.9% during the 3rd quarter. Sound Income Strategies LLC now owns 9,885 shares of the company’s stock valued at $195,000 after purchasing an additional 1,280 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Wall Street Analyst Weigh In

FSK has been the subject of several research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $21.00 price objective on shares of FS KKR Capital in a research note on Monday, December 2nd. B. Riley lowered FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price objective on the stock. in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their target price on FS KKR Capital from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.25.

Insider Transactions at FS KKR Capital

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of FS KKR Capital stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $21.31 per share, with a total value of $106,550.00. Following the acquisition, the insider now owns 49,800 shares of the company’s stock, valued at $1,061,238. This trade represents a 11.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 11,500 shares of company stock valued at $248,910 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

FS KKR Capital Trading Up 0.6 %

Shares of NYSE:FSK opened at $22.65 on Friday. The company has a market capitalization of $6.34 billion, a PE ratio of 12.05 and a beta of 1.24. FS KKR Capital Corp. has a 12-month low of $18.31 and a 12-month high of $22.67. The business has a 50 day moving average of $21.71 and a two-hundred day moving average of $20.65. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. The firm had revenue of $441.00 million during the quarter, compared to analysts’ expectations of $423.58 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. During the same period in the previous year, the business posted $0.80 EPS. As a group, analysts forecast that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Profile

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.