BidaskClub Downgrades Fifth Street Finance Corp. (NASDAQ:FSC) to Sell

Fifth Street Finance Corp. (NASDAQ:FSC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, July 27th.

Several other brokerages also recently issued reports on FSC. Zacks Investment Research downgraded shares of Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Fifth Street Finance Corp. in a research note on Thursday, March 30th. BMO Capital Markets reissued a “hold” rating and set a $4.00 target price on shares of Fifth Street Finance Corp. in a research note on Tuesday, April 11th. Keefe, Bruyette & Woods set a $5.00 target price on shares of Fifth Street Finance Corp. and gave the company a “hold” rating in a research note on Wednesday, May 10th. Finally, Deutsche Bank AG downgraded shares of Fifth Street Finance Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $5.50 to $4.75 in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.68.

Shares of Fifth Street Finance Corp. (NASDAQ FSC) opened at 5.42 on Thursday. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $6.32. The stock’s 50 day moving average price is $5.16 and its 200 day moving average price is $4.63.

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

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A number of large investors have recently modified their holdings of FSC. Muzinich & Co. Inc. boosted its stake in Fifth Street Finance Corp. by 116.7% in the first quarter. Muzinich & Co. Inc. now owns 6,779,107 shares of the credit services provider’s stock worth $31,319,000 after buying an additional 3,650,684 shares during the period. PVG Asset Management Corp purchased a new stake in Fifth Street Finance Corp. during the second quarter worth about $7,915,000. Kennedy Capital Management Inc. purchased a new stake in Fifth Street Finance Corp. during the second quarter worth about $6,289,000. Morgan Stanley boosted its stake in Fifth Street Finance Corp. by 104.5% in the first quarter. Morgan Stanley now owns 1,539,829 shares of the credit services provider’s stock worth $7,114,000 after buying an additional 786,975 shares during the period. Finally, LSV Asset Management boosted its stake in Fifth Street Finance Corp. by 73.3% in the second quarter. LSV Asset Management now owns 1,145,091 shares of the credit services provider’s stock worth $5,565,000 after buying an additional 484,431 shares during the period. Hedge funds and other institutional investors own 30.07% of the company’s stock.

About Fifth Street Finance Corp.

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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