Fifth Street Finance Corp. (NASDAQ:FSC) Cut to “Sell” at Zacks Investment Research

Fifth Street Finance Corp. (NASDAQ:FSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, August 2nd.

According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’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. “

Other equities analysts have also issued reports about the stock. National Securities raised shares of Fifth Street Finance Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $7.00 in a research report on Tuesday, July 18th. Deutsche Bank AG raised shares of Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.75 to $6.00 in a research report on Tuesday, July 18th. TheStreet lowered shares of Fifth Street Finance Corp. from a “c-” rating to a “d+” rating in a research report on Wednesday, June 14th. BidaskClub raised shares of Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $4.75 price objective on shares of Fifth Street Finance Corp. in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.68.

Fifth Street Finance Corp. (FSC) traded down 0.19% during trading on Wednesday, reaching $5.29. 430,808 shares of the company were exchanged. Fifth Street Finance Corp. has a 52-week low of $3.90 and a 52-week high of $6.32. The firm has a 50-day moving average of $5.03 and a 200-day moving average of $4.64.

Fifth Street Finance Corp. (NASDAQ:FSC) last issued its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share 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 analyst estimates of $43.35 million. Fifth Street Finance Corp. had a negative net margin of 37.21% and a positive return on equity of 8.27%. Equities research analysts expect that Fifth Street Finance Corp. will post $0.56 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Greenwich Investment Management Inc. raised its position in Fifth Street Finance Corp. by 17.2% in the second quarter. Greenwich Investment Management Inc. now owns 935,076 shares of the credit services provider’s stock worth $4,544,000 after buying an additional 137,100 shares in the last quarter. Advisor Group Inc. raised its position in Fifth Street Finance Corp. by 10.6% in the second quarter. Advisor Group Inc. now owns 31,553 shares of the credit services provider’s stock worth $154,000 after buying an additional 3,014 shares in the last quarter. Northern Trust Corp raised its position in Fifth Street Finance Corp. by 4.0% in the second quarter. Northern Trust Corp now owns 71,099 shares of the credit services provider’s stock worth $345,000 after buying an additional 2,746 shares in the last quarter. Van ECK Associates Corp raised its position in Fifth Street Finance Corp. by 6.9% in the second quarter. Van ECK Associates Corp now owns 990,627 shares of the credit services provider’s stock worth $4,814,000 after buying an additional 63,610 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Fifth Street Finance Corp. by 58.6% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 326,423 shares of the credit services provider’s stock worth $1,586,000 after buying an additional 120,623 shares in the last quarter. 29.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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