Zacks Investment Research downgraded shares of KCAP Financial (NASDAQ:KCAP) from a hold rating to a sell rating in a report published on Thursday, May 31st.
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, ValuEngine cut KCAP Financial from a buy rating to a hold rating in a report on Wednesday, May 2nd.
KCAP Financial (NASDAQ:KCAP) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). KCAP Financial had a return on equity of 5.57% and a net margin of 20.55%. The firm had revenue of $6.83 million during the quarter. equities research analysts expect that KCAP Financial will post 0.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 26th. Stockholders of record on Friday, July 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $0.40 annualized dividend and a dividend yield of 12.31%. KCAP Financial’s payout ratio is 133.33%.
An institutional investor recently raised its position in KCAP Financial stock. Ares Management LLC lifted its holdings in shares of KCAP Financial Inc (NASDAQ:KCAP) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,778 shares of the financial services provider’s stock after purchasing an additional 25,000 shares during the period. Ares Management LLC owned 0.87% of KCAP Financial worth $1,107,000 at the end of the most recent reporting period. Institutional investors own 24.74% of the company’s stock.
KCAP Financial Company Profile
KCAP Financial, Inc is a business development company specializing in investments in debt securities portfolio, asset manager affiliates, and CLO fund securities. The firm prefers to invest in senior secured term loans, mezzanine debt, and equity securities primarily in privately-held middle market, and buyout companies.
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