KCAP Financial (KCAP) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of KCAP Financial (NASDAQ:KCAP) from a hold rating to a sell rating in a research note released on Wednesday morning.

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. “

Separately, TheStreet raised shares of KCAP Financial from a c+ rating to a b- rating in a report on Thursday, January 17th.

KCAP Financial stock traded down $0.02 during trading hours on Wednesday, hitting $3.55. The company had a trading volume of 941 shares, compared to its average volume of 192,355. The stock has a market cap of $133.40 million, a P/E ratio of 13.69 and a beta of 0.98. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. KCAP Financial has a one year low of $2.87 and a one year high of $3.71.

A number of institutional investors have recently added to or reduced their stakes in KCAP. Callodine Capital Management LP bought a new position in shares of KCAP Financial during the fourth quarter worth approximately $3,901,000. Credit Suisse AG increased its holdings in shares of KCAP Financial by 4.0% during the third quarter. Credit Suisse AG now owns 3,310,527 shares of the financial services provider’s stock worth $10,958,000 after purchasing an additional 126,599 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of KCAP Financial by 45.4% during the fourth quarter. Advisors Asset Management Inc. now owns 365,723 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 114,135 shares during the period. Muzinich & Co. Inc. increased its holdings in shares of KCAP Financial by 31.8% during the third quarter. Muzinich & Co. Inc. now owns 276,022 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 66,668 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of KCAP Financial during the 4th quarter worth approximately $87,000. 25.85% of the stock is currently owned by hedge funds and other institutional investors.

About KCAP Financial

KCAP Financial, Inc is a business development company specializing in investments in debt securities portfolio, asset manager affiliates, and CLO fund securities. The firm prefers to invest in senior secured term loans, mezzanine debt, and equity securities primarily in privately-held middle market, and buyout companies.

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