Zacks Investment Research upgraded shares of KCAP Financial (NASDAQ:KCAP) from a hold rating to a buy rating in a research note published on Friday. They currently have $3.75 target price on the financial services provider’s stock.

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. “

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a hold rating and set a $3.50 price objective on shares of KCAP Financial in a report on Tuesday, October 24th. Ladenburg Thalmann Financial Services started coverage on shares of KCAP Financial in a research report on Monday, September 25th. They set a neutral rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. KCAP Financial has an average rating of Buy and a consensus price target of $7.75.

Shares of KCAP Financial (NASDAQ KCAP) opened at $3.43 on Friday. The company has a market cap of $128.82, a PE ratio of 57.17 and a beta of 1.71. KCAP Financial has a fifty-two week low of $3.30 and a fifty-two week high of $4.12. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55.

KCAP Financial (NASDAQ:KCAP) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $6.80 million. KCAP Financial had a return on equity of 6.54% and a net margin of 7.78%. analysts forecast that KCAP Financial will post 0.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Friday, January 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date is Thursday, January 4th. KCAP Financial’s payout ratio is currently 666.67%.

Several large investors have recently bought and sold shares of KCAP. Macquarie Group Ltd. acquired a new position in shares of KCAP Financial in the third quarter valued at approximately $125,000. Citadel Advisors LLC raised its position in shares of KCAP Financial by 55.8% in the third quarter. Citadel Advisors LLC now owns 41,545 shares of the financial services provider’s stock valued at $152,000 after buying an additional 14,879 shares during the last quarter. Legal & General Group Plc raised its position in shares of KCAP Financial by 8.6% in the second quarter. Legal & General Group Plc now owns 92,703 shares of the financial services provider’s stock valued at $328,000 after buying an additional 7,303 shares during the last quarter. Finally, Ares Management LLC raised its position in shares of KCAP Financial by 3.5% in the second quarter. Ares Management LLC now owns 160,322 shares of the financial services provider’s stock valued at $565,000 after buying an additional 5,487 shares during the last quarter. 20.22% of the stock is owned by institutional investors and hedge funds.

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About KCAP Financial

KCAP Financial, Inc is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio).

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