FS Investment Corporation (FSIC) Stake Decreased by LPL Financial LLC

LPL Financial LLC reduced its position in shares of FS Investment Corporation (NYSE:FSIC) by 9.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,322,404 shares of the company’s stock after selling 447,218 shares during the period. LPL Financial LLC’s holdings in FS Investment Corporation were worth $40,544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tealwood Asset Management Inc. purchased a new position in FS Investment Corporation during the third quarter worth approximately $100,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in FS Investment Corporation by 4.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,508 shares of the company’s stock worth $104,000 after buying an additional 498 shares during the last quarter. Paragon Capital Management Ltd boosted its position in FS Investment Corporation by 8.0% in the third quarter. Paragon Capital Management Ltd now owns 11,027 shares of the company’s stock worth $104,000 after buying an additional 818 shares during the last quarter. Telos Capital Management Inc. purchased a new position in FS Investment Corporation during the third quarter worth approximately $108,000. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new position in FS Investment Corporation during the third quarter worth approximately $111,000. Institutional investors own 32.41% of the company’s stock.

Institutional Ownership by Quarter for FS Investment Corporation (NYSE:FSIC)

FS Investment Corporation (NYSE:FSIC) opened at 10.50 on Monday. FS Investment Corporation has a 52 week low of $7.66 and a 52 week high of $10.80. The firm’s 50-day moving average price is $10.33 and its 200-day moving average price is $9.83.

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A number of research analysts have recently commented on the company. Zacks Investment Research cut FS Investment Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. National Securities restated a “neutral” rating and issued a $9.00 target price on shares of FS Investment Corporation in a research note on Friday, November 11th. TheStreet cut FS Investment Corporation from a “b” rating to a “c” rating in a research note on Wednesday, January 11th. Finally, Janney Montgomery Scott assumed coverage on FS Investment Corporation in a research note on Tuesday, January 24th. They issued a “neutral” rating and a $10.00 target price for the company. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. FS Investment Corporation has a consensus rating of “Hold” and a consensus price target of $9.75.

FS Investment Corporation Company Profile

FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.

5 Day Chart for NYSE:FSIC

Want to see what other hedge funds are holding FSIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS Investment Corporation (NYSE:FSIC).

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