FS Investment Corporation Should Initiate A Large Share Repurchase [Seeking Alpha]
FS INVESTMENT CORP (FSIC)
Last fs investment corp earnings: 11/7 04:15 pm
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US:NYSE Investor Relations:
fsinvestmentcorp.com/investor-relations/presentations-and-reports
Company Research
Source: Seeking Alpha
Summary FS Investment Corporation is a publicly traded business development company ( BDC ) that investments its capital principally in debt securities of private middle market U.S. companies. As of June 30, 2018, its $3.6 billion portfolio reportedly consisted of: 67% first lien senior secured loans 4% second lien senior secured loans 5% senior secured bonds 12% subordinated debt 1 % collateralized securities 11% equity investments and other investments However, the numbers above differ from what's reported on Page 5 of FSIC's 2Q Financial Presentation linked below. Since February of 2017, FSIC's share price has seen virtually unabated selling pressure. No doubt much of this is warranted as its Net Asset Value ( NAV ) per share closed the 1st Quarter of 2017 at $9.45 and closed the 2nd Quarter of 2018 at $8.87 ( FSIC-Financial-Presentation-18Q2-8-9-18.pdf ). Also, FSIC reduced its annual dividend by 14.7% from $0.891 to $0.76. Additional uncerta
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