Silver Point Capital L.P. Makes New $28.60 Billion Investment in FS KKR Capital Corp. $FSK

Silver Point Capital L.P. acquired a new stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,724,000 shares of the company's stock, valued at approximately $28,602,000,000. FS KKR Capital makes up 2.6% of Silver Point Capital L.P.'s investment portfolio, making the stock its 6th largest holding. Silver Point Capital L.P. owned approximately 0.99% of FS KKR Capital at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FSK. Bison Wealth LLC increased its position in shares of FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company's stock worth $476,000 after acquiring an additional 720 shares during the period. Goldman Sachs Group Inc. increased its holdings in FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company's stock worth $5,612,000 after purchasing an additional 32,258 shares during the period. Empowered Funds LLC raised its position in FS KKR Capital by 139.9% in the 1st quarter. Empowered Funds LLC now owns 26,744 shares of the company's stock valued at $560,000 after purchasing an additional 15,596 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of FS KKR Capital in the 2nd quarter valued at about $1,806,000. Finally, Nebula Research & Development LLC grew its position in shares of FS KKR Capital by 83.1% during the second quarter. Nebula Research & Development LLC now owns 20,236 shares of the company's stock worth $420,000 after buying an additional 9,183 shares in the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Price Performance

Shares of NYSE:FSK opened at $12.16 on Thursday. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $18.25. The firm has a market capitalization of $3.36 billion, a P/E ratio of -9.01 and a beta of 0.83. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28. The company's fifty day moving average price is $11.09 and its 200 day moving average price is $11.08.

FS KKR Capital (NYSE:FSK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. The company had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. During the same quarter in the prior year, the firm posted ($0.75) earnings per share. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be given a $0.44 dividend. This is a boost from FS KKR Capital's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.5%. FS KKR Capital's payout ratio is currently -124.44%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on FS KKR Capital from $9.50 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded FS KKR Capital from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Zacks Research raised FS KKR Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company cut their target price on FS KKR Capital from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $11.43.

FS KKR Capital Profile

FS KKR Capital Corp NYSE: FSK is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source