Newbridge Financial Services Group Invests in FS KKR Capital Corp.

Newbridge Financial Services Group Inc. has taken a significant step by acquiring a new stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) during the 4th quarter, as disclosed to the Securities and Exchange Commission. The institutional investor purchased 27,769 shares, which amounts to an investment valued at around $603,000.

Other institutional investors have also adjusted their positions with FS KKR Capital. For instance, McIlrath & Eck LLC boosted its stake by 47.5% in the 3rd quarter, now holding 2,096 shares valued at approximately $41,000, after buying 675 additional shares. In a notable move, FNY Investment Advisers LLC entered the scene with a new investment worth $52,000 in the 4th quarter. Moreover, Thurston Springer Miller Herd & Titak Inc. significantly increased its ownership by 122.6% during the same quarter, owning 2,760 shares worth $60,000 after acquiring an additional 1,520 shares. Nomura Asset Management Co. Ltd. also expanded its holdings by 164.8% in the 3rd quarter, now controlling 6,016 shares valued at $119,000, having purchased an extra 3,744 shares. In total, institutional investors and hedge funds collectively own 36.26% of FS KKR Capital's stock.

Recent Analyst Ratings

FSK has been the focus of several analyst reports recently. Wells Fargo & Company has maintained an "equal weight" rating for the stock while establishing a price target of $21.00. Similarly, B. Riley downgraded FS KKR Capital from a "buy" to a "neutral" rating with a new price target of $21.50. Royal Bank of Canada also raised its target price from $20.00 to $21.00, assigning a "sector perform" rating. In a further update, JPMorgan Chase & Co. increased their price target from $20.00 to $22.00, retaining a "neutral" rating. Currently, MarketBeat.com indicates that there are eight analysts rating the stock as a hold, with a consensus target price of $20.63.

Insider Activities

In related insider activities, Brian Gerson, an insider of FS KKR Capital, made a purchase of 5,000 shares on December 3rd, at an average cost of $22.08 per share, resulting in a total transaction of $110,400. Following this purchase, Gerson now owns 15,109 shares valued at $333,606.72, marking an increase of 49.46% in their holdings. This transaction has been recorded in a filing with the SEC. Over the last 90 days, insiders have acquired 11,500 shares worth $248,910, with only 0.25% of the shares owned by corporate insiders.

FS KKR Capital Stock Overview

Trading at NYSE FSK opened at $23.23 today. The company reports a debt-to-equity ratio of 1.21, and both a current and quick ratio of 2.96. Over the past year, FS KKR Capital Corp. recorded a low of $18.31 and a high of $23.47. The company’s market capitalization stands at $6.50 billion, with a P/E ratio of 12.35 and a beta factor of 1.25. The average of its 50-day simple moving average is $21.97, while the 200-day average stands at $20.84.

FS KKR Capital last shared its quarterly earnings results on November 6th, revealing earnings per share of $0.74 for the quarter, exceeding analysts' predictions of $0.70 by $0.04. The firm recorded a net margin of 29.98% and a return on equity of 12.31%. Revenue for the quarter reached $441 million, compared to anticipated revenue of $423.58 million. A year ago, the company had earnings per share of $0.80, with forecasts suggesting FS KKR Capital Corp. will post an EPS of 2.89 for the current year.

About FS KKR Capital

FS KKR Capital Corp. is a notable business development company that specializes in investments in debt securities. It primarily offers tailored credit solutions to private middle-market U.S. companies, focusing on senior secured debt and, to a lesser extent, subordinated debt.

Conclusion

With these investments and changing analyst ratings, FS KKR Capital shows a dynamic landscape for investors interested in business development companies. Keeping track of insider activities and institutional investment trends can provide valuable insights into the company's future performance.

investment, finance, stock