Zacks Investment Research lowered shares of KCAP Financial Inc. (NASDAQ:KCAP) from a buy rating to a hold rating in a report published on Tuesday. The firm currently has $5.00 price objective on the stock.
According to Zacks, “KCAP Financial Inc. is an internally managed business development company. The Company’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. KCAP Financial Inc., formerly Kohlberg Capital Corp., is based in the New York. “
Separately, TheStreet upgraded KCAP Financial from a sell rating to a hold rating in a report on Monday, August 22nd. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average price target of $4.50.
Shares of KCAP Financial (NASDAQ:KCAP) opened at 4.63 on Tuesday. KCAP Financial has a 52-week low of $2.62 and a 52-week high of $5.48. The company’s market capitalization is $170.02 million. The company’s 50-day moving average price is $4.30 and its 200-day moving average price is $3.79.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.96%. The ex-dividend date of this dividend is Wednesday, October 12th. KCAP Financial’s dividend payout ratio is presently -71.43%.
Several large investors have recently modified their holdings of the company. KCG Holdings Inc. acquired a new stake in KCAP Financial during the second quarter worth $105,000. Nuveen Fund Advisors LLC acquired a new stake in KCAP Financial during the second quarter worth $366,000. Stratos Wealth Partners LTD. acquired a new stake in KCAP Financial during the second quarter worth $118,000. Franklin Resources Inc. increased its stake in KCAP Financial by 4.2% in the second quarter. Franklin Resources Inc. now owns 764,988 shares of the company’s stock worth $2,999,000 after buying an additional 30,763 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in KCAP Financial by 1.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 47,475 shares of the company’s stock worth $186,000 after buying an additional 480 shares during the last quarter. Institutional investors own 15.54% of the company’s stock.
About KCAP Financial
KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).
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