KCAP Financial, Inc. (NASDAQ:KCAP) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of KCAP Financial, Inc. (NASDAQ:KCAP) from a sell rating to a hold rating in a research report report published on Tuesday, July 18th.

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. “

Several other brokerages have also weighed in on KCAP. BMO Capital Markets reiterated a buy rating and set a $16.00 target price on shares of KCAP Financial in a research report on Monday, May 1st. Keefe, Bruyette & Woods restated a hold rating and issued a $4.00 price target on shares of KCAP Financial in a research report on Friday, April 28th. Finally, ValuEngine lowered shares of KCAP Financial from a buy rating to a hold rating in a research report on Saturday, May 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. KCAP Financial currently has a consensus rating of Hold and an average price target of $8.17.

Shares of KCAP Financial (NASDAQ KCAP) opened at 3.38 on Tuesday. The firm has a market cap of $125.07 million, a PE ratio of 22.53 and a beta of 1.71. The company has a 50 day moving average price of $3.45 and a 200 day moving average price of $3.71. KCAP Financial has a 12-month low of $3.30 and a 12-month high of $4.89.

KCAP Financial (NASDAQ:KCAP) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.03. KCAP Financial had a net margin of 17.53% and a return on equity of 7.44%. The business had revenue of $7.66 million for the quarter, compared to analyst estimates of $7.95 million. On average, analysts forecast that KCAP Financial will post $0.35 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Friday, July 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.20%. The ex-dividend date was Wednesday, July 5th. KCAP Financial’s dividend payout ratio is presently 320.00%.

Several large investors have recently bought and sold shares of the company. Credit Suisse AG acquired a new stake in KCAP Financial during the first quarter worth $3,352,000. Private Management Group Inc. increased its stake in KCAP Financial by 122.7% in the first quarter. Private Management Group Inc. now owns 940,067 shares of the financial services provider’s stock worth $3,826,000 after buying an additional 517,978 shares during the period. UBS Group AG increased its stake in KCAP Financial by 23.1% in the first quarter. UBS Group AG now owns 925,447 shares of the financial services provider’s stock worth $3,767,000 after buying an additional 173,888 shares during the period. Goldman Sachs Group Inc. increased its stake in KCAP Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 55,589 shares of the financial services provider’s stock worth $226,000 after buying an additional 16,970 shares during the period. Finally, Two Sigma Investments LP increased its stake in KCAP Financial by 7.5% in the fourth quarter. Two Sigma Investments LP now owns 163,199 shares of the financial services provider’s stock worth $650,000 after buying an additional 11,430 shares during the period. 19.66% of the stock is owned by institutional investors and hedge funds.

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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