Today, Fifth Street Senior Floating Rate Corp. (FSFR) Lifted to Hold at Zacks Investment Research

Today, Fifth Street Senior Floating Rate Corp. (FSFR) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Fifth Street Senior Floating Rate Corp. is a business development company. It invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from debt investments while seeking to preserve capital. Fifth Street Senior Floating Rate Corp. is based in White Plains, New York. “

Separately, TheStreet raised Fifth Street Senior Floating Rate Corp. from a sell rating to a hold rating in a research report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $9.33.

Shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) opened at 8.61 on Tuesday. Fifth Street Senior Floating Rate Corp. has a 12-month low of $6.53 and a 12-month high of $9.03. The stock has a 50 day moving average of $8.70 and a 200-day moving average of $8.21.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last released its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. Fifth Street Senior Floating Rate Corp. had a negative net margin of 23.51% and a positive return on equity of 7.71%. Equities research analysts expect that Fifth Street Senior Floating Rate Corp. will post $0.87 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be given a dividend of $0.075 per share. This represents a $0.90 annualized dividend and a dividend yield of 10.45%. The ex-dividend date is Wednesday, October 12th. Fifth Street Senior Floating Rate Corp.’s dividend payout ratio is presently -209.30%.

In other Fifth Street Senior Floating Rate Corp. news, major shareholder Leonard M. Tannenbaum bought 1,000,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was purchased at an average cost of $8.47 per share, with a total value of $8,470,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Leonard M. Tannenbaum bought 11,599 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were acquired at an average cost of $8.50 per share, with a total value of $98,591.50. Following the completion of the transaction, the insider now owns 4,051,822 shares in the company, valued at $34,440,487. The disclosure for this purchase can be found here. Insiders own 0.18% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new stake in shares of Fifth Street Senior Floating Rate Corp. during the second quarter valued at about $104,000. Citigroup Inc. increased its position in Fifth Street Senior Floating Rate Corp. by 2.7% in the second quarter. Citigroup Inc. now owns 13,917 shares of the investment management company’s stock valued at $111,000 after buying an additional 362 shares during the last quarter. Raymond James & Associates purchased a new position in Fifth Street Senior Floating Rate Corp. during the second quarter valued at $115,000. Summit Securities Group LLC purchased a new position in Fifth Street Senior Floating Rate Corp. during the second quarter valued at $133,000. Finally, Janney Montgomery Scott LLC increased its position in Fifth Street Senior Floating Rate Corp. by 1.8% in the second quarter. Janney Montgomery Scott LLC now owns 37,200 shares of the investment management company’s stock valued at $319,000 after buying an additional 666 shares during the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is the United States-based closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return by generating income from its debt investments while seeking to preserve its capital. The Company invests in senior secured loans, including first lien, unitranche and second lien debt instruments.

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