Stock On Watch: Fifth Street Senior Floating Rate Corp Can’t Be More Safe. Trades Significantly Higher After A Gap Up

Stock On Watch: Fifth Street Senior Floating Rate Corp Can't Be More Safe. Trades Significantly Higher After A Gap Up

The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) gapped up by $0.01 today and has $12.75 target or 49.00% above today’s $8.56 share price. The 5 months technical chart setup indicates low risk for the $251.94 million company. The gap was reported on Oct, 1 by Barchart.com. If the $12.75 price target is reached, the company will be worth $123.45M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.12% or $0.01 on September 30, hitting $8.56. About 178,594 shares traded hands. Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) has risen 11.90% since February 29, 2016 and is uptrending. It has outperformed by 1.47% the S&P500.

Analysts await Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) to report earnings on December, 12. They expect $0.23 EPS, down 8.00% or $0.02 from last year’s $0.25 per share. FSFR’s profit will be $6.77M for 9.30 P/E if the $0.23 EPS becomes a reality. After $0.21 actual EPS reported by Fifth Street Senior Floating Rate Corp for the previous quarter, Wall Street now forecasts 9.52% EPS growth.

Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) Ratings Coverage

Out of 3 analysts covering Fifth Street Senior (NASDAQ:FSFR), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Fifth Street Senior has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Maxim Group maintained the shares of FSFR in a report on Wednesday, August 12 with “Buy” rating. The company was maintained on Thursday, May 12 by Deutsche Bank. The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) has “Buy” rating given on Thursday, February 11 by Maxim Group. Deutsche Bank maintained Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) on Wednesday, August 12 with “Buy” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.06 in 2016 Q2. Its up 0.27, from 0.79 in 2016Q1. The ratio improved, as 4 funds sold all Fifth Street Senior Floating Rate Corp shares owned while 13 reduced positions. 7 funds bought stakes while 11 increased positions. They now own 8.41 million shares or 11.07% more from 7.57 million shares in 2016Q1.
Pnc Fincl Services Group owns 10,000 shares or 0% of their US portfolio. Moreover, Morgan Stanley has 0% invested in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 1.23M shares. Janney Montgomery Scott Limited Liability has invested 0.01% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). The New York-based Mariner Inv Group Ltd Liability has invested 0.69% in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Springbok Capital Management Limited Liability Company owns 1,300 shares or 0% of their US portfolio. Hudock Cap Group Ltd Liability Corporation has 0% invested in the company for 493 shares. Mangrove, a New York-based fund reported 1.01 million shares. Us Bancorp De last reported 0% of its portfolio in the stock. Susquehanna Grp Incorporated Limited Liability Partnership owns 75,435 shares or 0% of their US portfolio. Millennium Mngmt Lc holds 0% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 53,900 shares. Ladenburg Thalmann Financial last reported 0% of its portfolio in the stock. Rivernorth Cap Management Lc has invested 0.83% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Northern Tru Corporation has 13,003 shares for 0% of their US portfolio. Moreover, Bessemer Gru Inc has 0% invested in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 22,957 shares. Guggenheim Cap Limited Liability Com owns 33,974 shares or 0% of their US portfolio.

More notable recent Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) news were published by: Barrons.com which released: “Ironsides, RiverNorth on Fifth Street Senior Floating Rate” on February 27, 2016, also Seekingalpha.com with their article: “Fifth Street Senior Floating Rate Corporation (FSFR) Management on Q3 2016 …” published on August 10, 2016, Seekingalpha.com published: “Fifth Street Senior Floating Rate’s (FSFR) CEO Ivelin Dimitrov on Q2 2016 …” on May 11, 2016. More interesting news about Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) were released by: Businesswire.com and their article: “Ironsides Files Definitive Proxy Statement for Fifth Street Senior Floating …” published on March 09, 2016 as well as Nasdaq.com‘s news article titled: “Fifth Street Senior Floating Rate Corp. (FSFR) Ex-Dividend Date Scheduled for …” with publication date: July 12, 2016.

FSFR Company Profile

Fifth Street Senior Floating Rate Corp., incorporated on May 22, 2013, is a closed-end, non-diversified management investment company. The Firm investment objective is to maximize the Company’s portfolio’s total return by generating income from its debt investments while seeking to preserve its capital. The Firm intends to achieve its investment objective by investing primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, that pay interest at rates, which are determined periodically on the basis of a floating base lending rate, made to private middle market companies whose debt is rated below investment grade, which the Company refer to collectively as senior loans. The Company’s investment adviser is Fifth Street Management.

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