Fifth Street Finance Corp. (FSC) Upgraded 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 note issued to investors 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. “

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

Shares of Fifth Street Finance Corp. (NASDAQ FSC) traded up 1.13% during trading on Monday, hitting $5.36. 1,819,859 shares of the stock were exchanged. The firm’s 50-day moving average is $4.73 and its 200 day moving average is $4.63. 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 posted its quarterly earnings data on Wednesday, May 10th. The credit services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Fifth Street Finance Corp. had a positive return on equity of 8.83% and a negative net margin of 33.60%. The firm had revenue of $45.56 million for the quarter, compared to the consensus estimate of $50.76 million. Analysts expect that Fifth Street Finance Corp. will post $0.56 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSC. Muzinich & Co. Inc. increased its position in Fifth Street Finance Corp. by 116.7% in the first quarter. Muzinich & Co. Inc. now owns 6,779,107 shares of the credit services provider’s stock valued at $31,319,000 after buying an additional 3,650,684 shares in the last quarter. Ares Management LLC increased its position in Fifth Street Finance Corp. by 5.1% in the first quarter. Ares Management LLC now owns 2,127,605 shares of the credit services provider’s stock valued at $9,830,000 after buying an additional 103,199 shares in the last quarter. UBS Group AG increased its position in Fifth Street Finance Corp. by 15.3% in the first quarter. UBS Group AG now owns 1,637,894 shares of the credit services provider’s stock valued at $7,567,000 after buying an additional 217,799 shares in the last quarter. Morgan Stanley increased its position in Fifth Street Finance Corp. by 104.5% in the first quarter. Morgan Stanley now owns 1,539,829 shares of the credit services provider’s stock valued at $7,114,000 after buying an additional 786,975 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Fifth Street Finance Corp. by 28.4% in the first quarter. Van ECK Associates Corp now owns 927,017 shares of the credit services provider’s stock valued at $4,283,000 after buying an additional 205,284 shares in the last quarter. 29.94% of the stock is owned by 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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Analyst Recommendations for Fifth Street Finance Corp. (NASDAQ:FSC)

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