Shelton Capital Management boosted its stake in shares of Fifth Street Finance Corp. (NASDAQ:FSC) by 39.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,314 shares of the credit services provider’s stock after purchasing an additional 35,000 shares during the quarter. Shelton Capital Management’s holdings in Fifth Street Finance Corp. were worth $604,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Management Co. LLC increased its holdings in Fifth Street Finance Corp. by 51.4% during the 1st quarter. Global X Management Co. LLC now owns 21,651 shares of the credit services provider’s stock worth $100,000 after purchasing an additional 7,352 shares during the period. Creative Planning increased its holdings in Fifth Street Finance Corp. by 66.9% during the 2nd quarter. Creative Planning now owns 22,868 shares of the credit services provider’s stock worth $111,000 after purchasing an additional 9,163 shares during the period. Stevens Capital Management LP purchased a new stake in Fifth Street Finance Corp. during the 2nd quarter worth about $152,000. Advisor Group Inc. increased its holdings in Fifth Street Finance Corp. by 10.6% during the 2nd quarter. Advisor Group Inc. now owns 31,553 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 3,014 shares during the period. Finally, Airain ltd purchased a new stake in Fifth Street Finance Corp. during the 2nd quarter worth about $154,000. Institutional investors own 32.76% of the company’s stock.
In related news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $5.43, for a total value of $108,600.00. Following the transaction, the chief executive officer now owns 35,968 shares in the company, valued at $195,306.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
Several equities research analysts have weighed in on the company. Maxim Group restated a “hold” rating on shares of Fifth Street Finance Corp. in a report on Thursday, August 10th. ValuEngine downgraded Fifth Street Finance Corp. from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. TheStreet upgraded Fifth Street Finance Corp. from a “d+” rating to a “c” rating in a report on Wednesday, September 6th. BidaskClub upgraded Fifth Street Finance Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.54.
Fifth Street Finance Corp. (FSC) traded down 0.54% on Monday, hitting $5.57. The stock had a trading volume of 45,264 shares. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $5.91. The company’s 50 day moving average is $5.44 and its 200 day moving average is $4.81.
Fifth Street Finance Corp. (NASDAQ:FSC) last released its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. The business had revenue of $44.92 million for the quarter, compared to analysts’ expectations of $43.35 million. Equities research analysts expect that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 8.93%. The ex-dividend date is Thursday, December 14th. Fifth Street Finance Corp.’s dividend payout ratio (DPR) is -288.46%.
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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.
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