Tudor Investment Corp ET AL Cuts Holdings in FS KKR Capital Corp. $FSK

Key Points

• Tudor Investment Corp ET AL slashed its stake in FS KKR Capital by 84.6%, selling 650,507 shares in Q3 and leaving it with 118,153 shares valued at about $1.76 million per its SEC filing.
• Other institutions moved the opposite way: Balyasny launched a new ~\$21.9 million position and VanEck added 752,956 shares to hold ~3.99 million shares (~\$59.6 million), while several firms reported large percentage increases in holdings.
• FSK missed Q results (EPS $0.52 vs. $0.55 expected; revenue \$348M vs. \$361.6M) recently paid a special \$0.03 dividend, and analysts have trimmed price targets and ratings, leaving a consensus "Reduce" and a \$13.07 average target.

Tudor Investment Corp ET AL decreased its stake in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 84.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,153 shares of the company's stock after selling 650,507 shares during the quarter. Tudor Investment Corp ET AL's holdings in FS KKR Capital were worth $1,764,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new position in shares of FS KKR Capital in the 3rd quarter valued at about $21,917,000. Van ECK Associates Corp increased its holdings in shares of FS KKR Capital by 23.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company's stock valued at $59,566,000 after acquiring an additional 752,956 shares during the last quarter. Gateway Wealth Partners LLC increased its holdings in shares of FS KKR Capital by 4,863.0% in the 3rd quarter. Gateway Wealth Partners LLC now owns 723,508 shares of the company's stock valued at $10,802,000 after acquiring an additional 708,930 shares during the last quarter. North Ground Capital increased its holdings in shares of FS KKR Capital by 3,743.8% in the 3rd quarter. North Ground Capital now owns 615,000 shares of the company's stock valued at $9,182,000 after acquiring an additional 599,000 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of FS KKR Capital in the 3rd quarter valued at about $6,702,000. Hedge funds and other institutional investors own 36.26% of the company's stock.

Insiders Place Their Bets

In related news, insider Daniel Pietrzak acquired 5,000 shares of the firm's stock in a transaction on Friday, February 27th. The stock was bought at an average cost of $11.25 per share, with a total value of $56,250.00. Following the transaction, the insider owned 64,800 shares of the company's stock, valued at $729,000. The trade was a 8.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

FS KKR Capital Stock Up 0.1%

Shares of NYSE FSK opened at $10.14 on Monday. The stock has a market cap of $2.84 billion, a PE ratio of 338.10 and a beta of 0.83. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a 52-week low of $9.72 and a 52-week high of $22.68. The business has a 50-day moving average price of $11.43 and a 200 day moving average price of $13.74.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.03). The firm had revenue of $348.00 million during the quarter, compared to analyst estimates of $361.59 million. FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. During the same period last year, the company earned $0.66 earnings per share. Equities research analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, April 2nd. Shareholders of record on Wednesday, March 18th were given a dividend of $0.03 per share. This represents a yield of 118.0%. The ex-dividend date of this dividend was Wednesday, March 18th. FS KKR Capital's dividend payout ratio (DPR) is presently 6,000.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial dropped their price objective on FS KKR Capital from $17.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, March 4th. Zacks Research downgraded FS KKR Capital from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Keefe, Bruyette & Woods dropped their price objective on FS KKR Capital from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Monday, March 2nd. JPMorgan Chase & Co. dropped their price objective on FS KKR Capital from $13.00 to $9.50 and set a "neutral" rating on the stock in a report on Friday, March 13th. Finally, B. Riley Financial dropped their price objective on FS KKR Capital from $17.50 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, FS KKR Capital presently has an average rating of "Reduce" and a consensus price target of $13.07.

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.

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