Newbridge Financial Services Group Inc. 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) during the fourth quarter. This information comes from their latest filing with the Securities and Exchange Commission. The institutional investor purchased 27,769 shares of the company, with a total value of around $603,000.

Other Institutional Investor Activities

In addition to Newbridge's acquisition, other institutional investors have also adjusted their holdings in FS KKR Capital. Notably, McIlrath & Eck LLC increased its investment in the company by 47.5% in the third quarter, now holding 2,096 shares worth approximately $41,000 after acquiring an additional 675 shares. FNY Investment Advisers LLC made a new investment in FS KKR Capital in the fourth quarter, valued at $52,000. Furthermore, Thurston Springer Miller Herd & Titak Inc. raised its position in the company by 122.6% during the same quarter, owning 2,760 shares worth about $60,000 after buying an additional 1,520 shares. Nomura Asset Management Co. Ltd. also increased its ownership by 164.8% in the third quarter, now holding 6,016 shares valued at $119,000 after acquiring 3,744 more shares. Finally, Financial Life Planners also entered a new position in FS KKR Capital during the fourth quarter, valued at $206,000. Overall, institutional investors and hedge funds collectively own 36.26% of the company's stock.

Analysts Update Ratings

Various analysts have recently provided updates on FSK. Wells Fargo & Company reissued an "equal weight" rating, establishing a price target of $21.00 for FS KKR Capital shares. On December 11, B. Riley downgraded the company from a "buy" rating to a "neutral" rating, setting a price objective of $21.50. Royal Bank of Canada also raised their target price from $20.00 to $21.00, giving the stock a "sector perform" rating. Additionally, JPMorgan Chase & Co. increased their target price from $20.00 to $22.00, maintaining a "neutral" rating. Currently, eight analysts have assigned a "hold" rating on the stock, and according to MarketBeat.com, the consensus rating for FS KKR Capital is "Hold" with a target price of $20.63.

Insider Activity

Insider activity has also been noteworthy, with Brian Gerson, an insider, purchasing 5,000 shares of FS KKR Capital stock on December 3. He acquired these shares at an average price of $22.08 each, totaling $110,400. Following this investment, Gerson holds 15,109 shares valued at around $333,607, representing a 49.46% increase in his position. This transaction has been publicly disclosed in a filing with the SEC. Over the last 90 days, insiders have acquired a total of 11,500 shares of the company, worth $248,910. It is important to note that just 0.25% of the stock is currently held by corporate insiders.

Current Stock Performance

The stock of FS KKR Capital opened at $23.23 on the latest trading day. The company maintains a debt-to-equity ratio of 1.21, with both a current ratio and quick ratio of 2.96. Over the past year, FS KKR Capital has experienced a low of $18.31 and a high of $23.47. The company has a market capitalization of $6.50 billion and a price-to-earnings (P/E) ratio of 12.35, with a beta of 1.25. The stock's 50-day moving average stands at $21.97, while the 200-day average is at $20.84.

Earnings Highlights

FS KKR Capital recently reported its quarterly earnings on November 6, revealing earnings of $0.74 per share, which surpassed analysts' expectations of $0.70 by $0.04. The company achieved a net margin of 29.98% and a return on equity of 12.31%. Reported revenue for the quarter was $441 million, higher than the anticipated $423.58 million. In the prior year, the company recorded earnings of $0.80 per share. Analysts forecast that FS KKR Capital Corp. will report an EPS of 2.89 for the current year.

About FS KKR Capital Corp.

FS KKR Capital Corp. is recognized as a business development company that specializes in investing in debt securities. The firm provides tailored credit solutions primarily to private middle-market companies in the U.S., focusing largely on senior secured debt, as well as subordinated debt.

Investment, Shares, Capital