KCAP Financial Inc. (NASDAQ:KCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Separately, TheStreet raised KCAP Financial from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. KCAP Financial has an average rating of “Hold” and a consensus target price of $4.50.
Shares of KCAP Financial (NASDAQ:KCAP) traded down 0.99% during trading on Wednesday, hitting $3.99. The stock had a trading volume of 75,847 shares. The company’s market cap is $146.62 million. The firm’s 50 day moving average is $4.21 and its 200 day moving average is $4.06. KCAP Financial has a 1-year low of $2.62 and a 1-year high of $4.89.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Investors of record on Friday, October 14th were paid a $0.15 dividend. The ex-dividend date was Wednesday, October 12th. This represents a $0.60 annualized dividend and a yield of 15.04%. KCAP Financial’s payout ratio is -176.47%.
A number of institutional investors have recently bought and sold shares of KCAP. Ares Management LLC increased its position in KCAP Financial by 183.7% in the third quarter. Ares Management LLC now owns 325,880 shares of the company’s stock valued at $1,509,000 after buying an additional 211,010 shares during the last quarter. UBS Group AG increased its position in KCAP Financial by 17.1% in the first quarter. UBS Group AG now owns 723,108 shares of the company’s stock valued at $2,603,000 after buying an additional 105,633 shares during the last quarter. Nuveen Fund Advisors LLC purchased a new position in KCAP Financial during the second quarter valued at approximately $366,000. Private Management Group Inc. purchased a new position in KCAP Financial during the third quarter valued at approximately $389,000. Finally, Algert Global LLC purchased a new position in KCAP Financial during the third quarter valued at approximately $328,000. Institutional investors and hedge funds own 14.74% of the company’s stock.
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).