The Zacks Investment Management Takes Position in Fifth Street Asset Management Inc. (FSAM)

The Zacks Investment Management Takes Position in Fifth Street Asset Management Inc. (FSAM)

Zacks Investment Management purchased a new position in Fifth Street Asset Management Inc. (NASDAQ:FSAM) during the third quarter, Holdings Channel reports. The firm purchased 136,902 shares of the company’s stock, valued at approximately $754,000. Zacks Investment Management owned about 2.34% of Fifth Street Asset Management as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Springhouse Capital Management LP raised its stake in shares of Fifth Street Asset Management by 1.3% in the third quarter. Springhouse Capital Management LP now owns 582,998 shares of the company’s stock worth $3,212,000 after buying an additional 7,500 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Fifth Street Asset Management by 1.0% in the second quarter. Vanguard Group Inc. now owns 270,196 shares of the company’s stock worth $1,091,000 after buying an additional 2,656 shares during the last quarter. Globeflex Capital L P raised its stake in shares of Fifth Street Asset Management by 88.4% in the third quarter. Globeflex Capital L P now owns 235,318 shares of the company’s stock worth $1,297,000 after buying an additional 110,410 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Fifth Street Asset Management by 4.6% in the second quarter. BlackRock Fund Advisors now owns 181,000 shares of the company’s stock worth $731,000 after buying an additional 7,937 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Fifth Street Asset Management by 139.4% in the third quarter. JPMorgan Chase & Co. now owns 139,126 shares of the company’s stock worth $767,000 after buying an additional 81,007 shares during the last quarter. Institutional investors and hedge funds own 55.80% of the company’s stock.

Fifth Street Asset Management Inc. (NASDAQ:FSAM) traded down 1.42% during midday trading on Thursday, hitting $6.95. The company had a trading volume of 101,299 shares. The company’s market cap is $45.88 million. Fifth Street Asset Management Inc. has a 12 month low of $1.31 and a 12 month high of $7.75. The firm has a 50-day moving average price of $6.72 and a 200-day moving average price of $5.44.

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.125 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.50 dividend on an annualized basis and a yield of 7.19%. This is a positive change from Fifth Street Asset Management’s previous quarterly dividend of $0.10. Fifth Street Asset Management’s dividend payout ratio (DPR) is currently -416.67%.

A number of equities research analysts have recently weighed in on FSAM shares. Zacks Investment Research lowered Fifth Street Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Credit Suisse Group AG restated a “hold” rating and set a $4.00 price target on shares of Fifth Street Asset Management in a research note on Monday, November 7th.

About Fifth Street Asset Management

Fifth Street Asset Management Inc is an alternative asset manager. The Company provides asset management services to its investment funds (the Fifth Street Funds or the funds), which consist of Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR), both publicly-traded business development companies (together, the BDCs).

Want to see what other hedge funds are holding FSAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Street Asset Management Inc. (NASDAQ:FSAM).

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