Price Action Report: Fifth Street Senior Floating Rate Corp Stock Price Hits 52-Week High Today

Price Action Report: Fifth Street Senior Floating Rate Corp Stock Price Hits 52 Week High Today

The stock of Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) hit a new 52-week high and has $10.00 target or 7.00% above today’s $9.35 share price. The 7 months bullish chart indicates low risk for the $271.68 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $10.00 price target is reached, the company will be worth $19.02M 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 133,168 shares traded hands or 1.31% up from the average. Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) has risen 18.05% since April 25, 2016 and is uptrending. It has outperformed by 12.04% the S&P500.

Analysts await Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) to report earnings on December, 14 before the open. 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 $6.68M for 10.16 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. $11 is the highest target while $9 is the lowest. The $9.33 average target is -0.21% below today’s ($9.35) stock price. Fifth Street Senior has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Deutsche Bank given on Thursday, May 12. The firm has “Buy” rating given on Wednesday, August 12 by Deutsche Bank. The firm has “Buy” rating given on Wednesday, August 12 by Maxim Group. Maxim Group maintained it with “Buy” rating and $9 target price in Thursday, February 11 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 2016 Q2. Its down 0.28, from 1.06 in 2016Q1. The ratio fall, 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.
Janney Montgomery Scott Lc reported 37,200 shares or 0.01% of all its holdings. Products Prtn Ltd Limited Liability Company accumulated 0.01% or 12,400 shares. Moreover, Mariner Investment Grp Ltd has 0.69% invested in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 255,986 shares. Muzinich & last reported 221,136 shares in the company. Summit Gp Ltd Co last reported 0.07% of its portfolio in the stock. Kcg Holdg accumulated 0% or 13,009 shares. Moreover, Citadel Advsr Lc has 0% invested in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 12,881 shares. The Pennsylvania-based Susquehanna Group Inc Limited Liability Partnership has invested 0% in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Us Comml Bank De accumulated 200 shares or 0% of the stock. Hudock Capital Group Llc has 0% invested in the company for 493 shares. Springbok Cap Mgmt Limited Liability holds 0% of its portfolio in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) for 1,300 shares. Bessemer Group Inc accumulated 22,957 shares or 0% of the stock. Natl Bank Of America De last reported 0% of its portfolio in the stock. The New York-based Morgan Stanley has invested 0% in Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR). Advsr Asset last reported 772,013 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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