Fifth Street Senior Floating Rate Corp. (FSFR) Stock Rating Lowered by Zacks Investment Research

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Fifth Street Senior Floating Rate Corp. is a business development company. It invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from debt investments while seeking to preserve capital. Fifth Street Senior Floating Rate Corp. is based in White Plains, New York. “

Several other equities research analysts also recently weighed in on FSFR. BidaskClub downgraded Fifth Street Senior Floating Rate Corp. from a “sell” rating to a “strong sell” rating in a report on Monday, July 17th. Deutsche Bank AG restated a “hold” rating and set a $9.25 price target (up previously from $8.50) on shares of Fifth Street Senior Floating Rate Corp. in a report on Tuesday, July 18th. Finally, Maxim Group restated a “hold” rating on shares of Fifth Street Senior Floating Rate Corp. in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $9.50.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) traded up 0.11% during trading on Monday, hitting $8.91. The stock had a trading volume of 50,631 shares. Fifth Street Senior Floating Rate Corp. has a one year low of $7.30 and a one year high of $10.37. The firm has a 50 day moving average of $8.83 and a 200-day moving average of $8.31.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last issued its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Fifth Street Senior Floating Rate Corp. had a return on equity of 7.27% and a net margin of 29.89%. The company had revenue of $12.03 million for the quarter. Analysts anticipate that Fifth Street Senior Floating Rate Corp. will post $0.77 earnings per share for the current fiscal year.

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In other news, CEO Bernard D. Berman sold 7,473 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $8.80, for a total transaction of $65,762.40. Following the completion of the transaction, the chief executive officer now directly owns 92,027 shares of the company’s stock, valued at approximately $809,837.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.43% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in FSFR. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Fifth Street Senior Floating Rate Corp. during the 1st quarter worth about $119,000. WFG Advisors LP boosted its position in shares of Fifth Street Senior Floating Rate Corp. by 397.6% during the 2nd quarter. WFG Advisors LP now owns 28,906 shares of the investment management company’s stock worth $236,000 after acquiring an additional 23,097 shares in the last quarter. National Asset Management Inc. boosted its position in shares of Fifth Street Senior Floating Rate Corp. by 4.0% during the 2nd quarter. National Asset Management Inc. now owns 33,915 shares of the investment management company’s stock worth $277,000 after acquiring an additional 1,294 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Fifth Street Senior Floating Rate Corp. by 6.6% during the 2nd quarter. Stifel Financial Corp now owns 38,788 shares of the investment management company’s stock worth $315,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Fifth Street Senior Floating Rate Corp. during the 2nd quarter worth about $496,000. 23.29% of the stock is owned by institutional investors and hedge funds.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a closed-end, non-diversified management investment company. The Company operates as a specialty finance company. The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.

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