Brokerages Set Fifth Street Finance Corp. (FSC) Price Target at $4.88

Brokerages Set Fifth Street Finance Corp. (FSC) Price Target at $4.88

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.88.

Several research firms recently weighed in on FSC. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Fifth Street Finance Corp. in a report on Thursday, March 30th. Zacks Investment Research downgraded shares of Fifth Street Finance Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Barclays PLC set a $5.00 price objective on shares of Fifth Street Finance Corp. and gave the stock a “hold” rating in a report on Tuesday, February 14th. National Securities cut their price target on shares of Fifth Street Finance Corp. from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, February 13th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $4.00 price target on shares of Fifth Street Finance Corp. in a report on Tuesday, April 11th.

In other Fifth Street Finance Corp. news, major shareholder Leonard M. Tannenbaum purchased 594,740 shares of the business’s stock in a transaction on Friday, March 10th. The stock was bought at an average cost of $4.41 per share, with a total value of $2,622,803.40. Following the acquisition, the insider now owns 12,278,720 shares of the company’s stock, valued at $54,149,155.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernard D. Berman purchased 15,000 shares of the business’s stock in a transaction on Monday, March 6th. The stock was acquired at an average cost of $4.37 per share, with a total value of $65,550.00. Following the completion of the acquisition, the director now directly owns 40,968 shares in the company, valued at approximately $179,030.16. The disclosure for this purchase can be found here. Insiders acquired a total of 4,504,815 shares of company stock valued at $20,564,565 over the last three months. 0.08% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. DnB Asset Management AS increased its stake in Fifth Street Finance Corp. by 2.1% in the third quarter. DnB Asset Management AS now owns 64,300 shares of the credit services provider’s stock valued at $374,000 after buying an additional 1,300 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Fifth Street Finance Corp. by 7.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,635 shares of the credit services provider’s stock valued at $206,000 after buying an additional 2,921 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Fifth Street Finance Corp. by 32.3% in the third quarter. Eagle Global Advisors LLC now owns 27,250 shares of the credit services provider’s stock valued at $158,000 after buying an additional 6,660 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in Fifth Street Finance Corp. by 39.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 27,150 shares of the credit services provider’s stock valued at $146,000 after buying an additional 7,706 shares during the last quarter. Finally, Cipher Capital LP increased its stake in Fifth Street Finance Corp. by 19.2% in the fourth quarter. Cipher Capital LP now owns 51,428 shares of the credit services provider’s stock valued at $276,000 after buying an additional 8,274 shares during the last quarter. 32.17% of the stock is owned by institutional investors.

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) traded down 1.35% during midday trading on Monday, hitting $4.40. 742,139 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $4.51 and its 200-day moving average is $5.09. The stock’s market cap is $620.22 million. Fifth Street Finance Corp. has a 1-year low of $4.31 and a 1-year high of $6.32.

Fifth Street Finance Corp. (NASDAQ:FSC) last posted its quarterly earnings data on Thursday, February 9th. The credit services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.02. The company earned $51.76 million during the quarter, compared to analyst estimates of $57.10 million. Fifth Street Finance Corp. had a positive return on equity of 9.13% and a negative net margin of 33.22%. Analysts predict that Fifth Street Finance Corp. will post $0.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.36%. This is an increase from Fifth Street Finance Corp.’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, September 14th. Fifth Street Finance Corp.’s dividend payout ratio is presently -130.91%.

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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