FS Investment Corporation (NYSE:FSIC) Cut to Strong Sell at BidaskClub

FS Investment Corporation (NYSE:FSIC) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, October 18th.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded FS Investment Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Keefe, Bruyette & Woods set a $9.00 target price on FS Investment Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. ValuEngine upgraded FS Investment Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, National Securities reiterated a “neutral” rating and set a $10.00 target price on shares of FS Investment Corporation in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.75.

Shares of FS Investment Corporation (NYSE FSIC) traded up 0.63% during mid-day trading on Wednesday, hitting $8.00. The company had a trading volume of 1,368,659 shares. The firm has a 50-day moving average of $8.28 and a 200-day moving average of $8.87. FS Investment Corporation has a 12 month low of $7.85 and a 12 month high of $10.80.

FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The company had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $103.14 million. Analysts predict that FS Investment Corporation will post $0.73 earnings per share for the current fiscal year.

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In other news, CEO Michael C. Forman acquired 17,100 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $8.41 per share, for a total transaction of $143,811.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 21,575 shares of company stock worth $181,177. Company insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. WealthPLAN Partners LLC grew its stake in shares of FS Investment Corporation by 1,812.2% in the second quarter. WealthPLAN Partners LLC now owns 485,724 shares of the financial services provider’s stock valued at $4,444,000 after buying an additional 460,323 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of FS Investment Corporation by 20.1% in the second quarter. Ameriprise Financial Inc. now owns 2,399,407 shares of the financial services provider’s stock valued at $21,943,000 after buying an additional 401,657 shares in the last quarter. Commerce Bank acquired a new stake in shares of FS Investment Corporation in the second quarter valued at about $3,213,000. Van ECK Associates Corp grew its stake in shares of FS Investment Corporation by 21.7% in the second quarter. Van ECK Associates Corp now owns 1,672,044 shares of the financial services provider’s stock valued at $15,299,000 after buying an additional 298,166 shares in the last quarter. Finally, Koch Industries Inc. grew its stake in shares of FS Investment Corporation by 737.1% in the second quarter. Koch Industries Inc. now owns 300,044 shares of the financial services provider’s stock valued at $270,000 after buying an additional 264,201 shares in the last quarter. Institutional investors own 32.38% of the company’s stock.

About FS Investment Corporation

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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