Fifth Street Finance Corp. (NASDAQ:FSC) Rating Increased to Hold at Zacks Investment Research

Fifth Street Finance Corp. (NASDAQ:FSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, July 17th.

According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’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. “

A number of other brokerages have also recently issued reports on FSC. JMP Securities raised shares of Fifth Street Finance Corp. from a “market perform” rating to an “outperform” rating and set a $6.50 target price for the company in a report on Monday, July 17th. National Securities reiterated a “neutral” rating and issued a $4.00 price target on shares of Fifth Street Finance Corp. in a research note on Monday, May 15th. TheStreet lowered shares of Fifth Street Finance Corp. from a “c-” rating to a “d+” rating in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $4.75 price target on shares of Fifth Street Finance Corp. in a research note on Friday, June 30th. Finally, Deutsche Bank AG lowered shares of Fifth Street Finance Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $5.50 to $4.75 in a research report on Monday, May 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Fifth Street Finance Corp. currently has a consensus rating of “Hold” and an average price target of $5.68.

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) opened at 5.29 on Monday. The stock has a 50 day moving average price of $5.03 and a 200 day moving average price of $4.64. Fifth Street Finance Corp. has a 1-year low of $3.90 and a 1-year high of $6.32.

Fifth Street Finance Corp. (NASDAQ:FSC) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $44.92 million for the quarter, compared to analyst estimates of $43.35 million. Fifth Street Finance Corp. had a negative net margin of 37.21% and a positive return on equity of 8.17%. Analysts expect that Fifth Street Finance Corp. will post $0.56 EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP increased its position in Fifth Street Finance Corp. by 84.4% in the first quarter. Trexquant Investment LP now owns 82,710 shares of the credit services provider’s stock valued at $382,000 after buying an additional 37,860 shares during the period. Ameriprise Financial Inc. acquired a new stake in Fifth Street Finance Corp. during the first quarter worth about $187,000. Karp Capital Management Corp acquired a new stake in Fifth Street Finance Corp. during the first quarter worth about $204,000. Gabelli Funds LLC increased its stake in Fifth Street Finance Corp. by 3.6% in the first quarter. Gabelli Funds LLC now owns 312,704 shares of the credit services provider’s stock worth $1,445,000 after buying an additional 10,788 shares during the last quarter. Finally, Comerica Bank acquired a new stake in Fifth Street Finance Corp. during the first quarter worth about $156,000. 29.63% of the stock is currently owned by hedge funds and other institutional investors.

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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