Worth Watching: What Will Happen to Fifth Street Senior Floating Rate Corp Next? The Stock Just Reaches 52-Week High

Worth Watching: What Will Happen to Fifth Street Senior Floating Rate Corp Next? The Stock Just Reaches 52 Week High

The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) hit a new 52-week high and has $16.61 target or 80.00% above today’s $9.23 share price. The 7 months bullish chart indicates low risk for the $271.68M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $16.61 price target is reached, the company will be worth $217.34M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 65,455 shares traded hands. Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) has risen 17.15% since April 19, 2016 and is uptrending. It has outperformed by 13.29% the S&P500.

Analysts await Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) to report earnings on December, 12. They expect $0.23 earnings per share, down 8.00% or $0.02 from last year’s $0.25 per share. FSFR’s profit will be $6.77 million for 10.03 P/E if the $0.23 EPS becomes a reality. After $0.21 actual earnings per share 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. On Thursday, May 12 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) earned “Buy” rating by Maxim Group on Thursday, February 11. The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) earned “Buy” rating by Maxim Group on Wednesday, August 12. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, August 12 report.

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 decreased to 0.78 in Q2 2016. Its down 0.28, from 1.06 in 2016Q1. The ratio is negative, 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.
Royal Bancorp Of Canada last reported 0% of its portfolio in the stock. Ares Llc accumulated 0.26% or 404,270 shares. Goldman Sachs Group Incorporated has invested 0% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Stifel Fincl Corporation last reported 0% of its portfolio in the stock. Kemper Corporation has invested 1.83% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Asset Mngmt Inc holds 0.1% or 772,013 shares in its portfolio. Mariner Inv Limited Liability Corp holds 255,986 shares or 0.69% of its portfolio. Springbok Capital Limited Liability Co has invested 0% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Deutsche Bankshares Ag, a Germany-based fund reported 482,482 shares. Raymond James Assoc last reported 0% of its portfolio in the stock. Hotchkis And Wiley Capital Management Limited Liability Company last reported 0% of its portfolio in the stock. California Employees Retirement holds 80,000 shares or 0% of its portfolio. Jpmorgan Chase And Comm holds 0% or 342,971 shares in its portfolio. Wells Fargo And Mn has invested 0% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Hudock Grp Ltd Liability Com last reported 493 shares in the company.

More news for Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) were recently published by: Nasdaq.com, which released: “Fifth Street Senior Floating Rate Corp. (FSFR) Ex-Dividend Date Scheduled for …” on November 09, 2016. Barrons.com‘s article titled: “Ironsides, RiverNorth on Fifth Street Senior Floating Rate” and published on February 27, 2016 is yet another important article.

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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