The stock of KCAP Financial Inc (NASDAQ:KCAP) is a huge mover today! The stock decreased 5.99% or $0.24 on November 4, hitting $3.77. About 328,584 shares traded hands or 129.82% up from the average. KCAP Financial Inc (NASDAQ:KCAP) has risen 11.08% since April 4, 2016 and is uptrending. It has outperformed by 9.99% the S&P500.
The move comes after 9 months negative chart setup for the $135.43M company. It was reported on Nov, 4 by Barchart.com. We have $3.24 PT which if reached, will make NASDAQ:KCAP worth $18.96 million less.
KCAP Financial Inc (NASDAQ:KCAP) Ratings Coverage
Out of 4 analysts covering KCAP Financial (NASDAQ:KCAP), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. KCAP Financial has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Monday, August 17 by Wood. The rating was reinitiated by Janney Capital on Wednesday, April 27 with “Neutral”.
According to Zacks Investment Research, “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.”
Another recent and important KCAP Financial Inc (NASDAQ:KCAP) news was published by Globenewswire.com which published an article titled: “KCAP Financial, Inc. Announces Third Quarter 2016 Financial Results” on November 02, 2016.
KCAP Company Profile
KCAP Financial, Inc., incorporated on August 8, 2006, is an internally managed, non-diversified closed-end investment company. The Firm has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt in privately-held middle market companies (the debt securities portfolio). In addition, the Company may invest in the equity securities of privately held middle market companies. Second, the Company invests in asset management companies (the Asset Manager Affiliates) that manage collateralized loan obligation funds (CLO Funds). Third, the Company invests in debt and subordinated securities issued by CLOs (CLO fund securities). These CLO fund securities are managed by its Asset Manager Affiliates, but from time-to-time the Company makes investments in CLO Fund Securities managed by other asset managers. The CLO funds typically invest in syndicated loans, high-yield bonds and other credit instruments. The Firm may also invest in other investments, such as loans to larger, publicly-traded companies, high-yield bonds and distressed debt securities. The Firm may also receive warrants or options to purchase common stock in connection with its debt investments.
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