BMO Capital Markets Reaffirms Hold Rating for Fifth Street Finance Corp. (NASDAQ:FSC)

Fifth Street Finance Corp. (NASDAQ:FSC)‘s stock had its “hold” rating reissued by research analysts at BMO Capital Markets in a note issued to investors on Friday, October 6th. They presently have a $4.00 price objective on the credit services provider’s stock. BMO Capital Markets’ price objective indicates a potential downside of 28.95% from the stock’s current price.

A number of other brokerages have also recently weighed in on FSC. JMP Securities raised shares of Fifth Street Finance Corp. from a “market perform” rating to an “outperform” rating and set a $6.50 price target for the company in a research report on Monday, July 17th. Maxim Group reissued a “hold” rating on shares of Fifth Street Finance Corp. in a research report on Thursday, August 10th. Deutsche Bank AG upgraded shares of Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.75 to $6.00 in a research note on Tuesday, July 18th. TheStreet upgraded shares of Fifth Street Finance Corp. from a “d+” rating to a “c” rating in a research note on Wednesday, September 6th. Finally, ValuEngine lowered shares of Fifth Street Finance Corp. from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.75.

Fifth Street Finance Corp. (NASDAQ:FSC) opened at 5.63 on Friday. The company has a 50 day moving average price of $5.47 and a 200 day moving average price of $4.84. Fifth Street Finance Corp. has a 52-week low of $3.90 and a 52-week high of $5.91.

Fifth Street Finance Corp. (NASDAQ:FSC) last announced its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Fifth Street Finance Corp. had a negative net margin of 37.21% and a positive return on equity of 8.27%. The firm had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $43.35 million. Equities research analysts anticipate that Fifth Street Finance Corp. will post $0.56 EPS for the current year.

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In other news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $5.43, for a total transaction of $108,600.00. Following the transaction, the chief executive officer now directly owns 35,968 shares in the company, valued at $195,306.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. WFG Advisors LP increased its stake in shares of Fifth Street Finance Corp. by 61.3% during the second quarter. WFG Advisors LP now owns 49,088 shares of the credit services provider’s stock worth $239,000 after acquiring an additional 18,657 shares during the period. Strategic Wealth Advisors Group LLC acquired a new position in shares of Fifth Street Finance Corp. during the second quarter worth about $381,000. PVG Asset Management Corp acquired a new position in shares of Fifth Street Finance Corp. during the second quarter worth about $7,915,000. Ares Management LLC increased its stake in shares of Fifth Street Finance Corp. by 1.2% during the second quarter. Ares Management LLC now owns 2,152,605 shares of the credit services provider’s stock worth $10,461,000 after acquiring an additional 25,000 shares during the period. Finally, Shelton Capital Management increased its stake in shares of Fifth Street Finance Corp. by 39.2% during the second quarter. Shelton Capital Management now owns 124,314 shares of the credit services provider’s stock worth $604,000 after acquiring an additional 35,000 shares during the period. Institutional investors and hedge funds own 32.75% of the company’s stock.

Fifth Street Finance Corp. Company Profile

Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.

Analyst Recommendations for Fifth Street Finance Corp. (NASDAQ:FSC)

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