Fifth Street Finance (NASDAQ:FSC) Downgrade
Trading of Fifth Street Finance (NASDAQ:FSC)’s shares is going to be interesting today. Raymond James lowered the stock from a Mkt Perform to a Underperform.
The stock rating downgrade is probably noticed by stock traders, as NASDAQ:FSC is at the moment trading -1.47% lower at $4.70 as of 2:03 AM New York time. Fifth Street Finance shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has risen 13.57% over the same time.
Out of 10 brokers covering Fifth Street Finance, 4 rate it a Buy, 9 indicate a Hold while 0 suggest a Sell. The highest target is $8 and the lowest is $5 according to Thomson/First Call. The 12-month mean target is $6.47, which means upside potential of 37.66% over the current price.
Greenwich Investment Management Inc. had the biggest stake with ownership of 762,965 shares as of Q2 2015 for 4.46% of the US long equity exposure. Muzinich & Co. Inc. is another quite bullish fund who is possessing 1.50 million shares of Fifth Street Finance or 2.24% of their US long equity exposure. Further, Advisors Capital Management Llc have 2% of their US long equity exposure invested in the company for 3.53 million shares. The New York-based fund Mangrove Partners revealed it had purchased so far a stake worth about 1.58% of the fund’s stock portfolio in Fifth Street Finance. The Idaho-based fund Selway Asset Management is also positive about the stock, possessing 1.16 million shares or 0.75% of their US long equity exposure.
Fifth Street Finance (NASDAQ:FSC) Profile
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).
Fifth Street Finance (NASDAQ:FSC) traded down -1.47% on 30 March, hitting $4.7. A total of 780,050 shares of the company’s stock traded hands. This is down from average of 1.43M shares. Fifth Street Finance has a 52 week low of $4.31 and a 52 week high of $6.32. The company has a market cap of $669.53M and a P/E ratio of 0.
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