Fifth Street Finance (FSC) : Traders are bullish on Fifth Street Finance (FSC) as it has outperformed the S&P 500 by a wide margin of 7.62% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.07% in the last 1 week, and is up 8.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Fifth Street Finance Corp. is up 21.95% in the last 3-month period. Year-to-Date the stock performance stands at 1.63%. The stock has recorded a 20-day Moving Average of 4.85% and the 50-Day Moving Average is 12.99%.
Fifth Street Finance (NASDAQ:FSC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.90 and $5.90 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.92, notching a gain of 0.51% for the day. The total traded volume was 520,905 . The stock had closed at $5.89 on the previous day.
Also, In a research note released to the investors, Deutsche Bank maintains its rating on Fifth Street Finance (NASDAQ:FSC).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank lowers the new price target from $6.75 per share to $6.5 per share. The rating by the firm was issued on August 16, 2016.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. The Companys investment objective is to maximize the Companys portfolios total return by generating income from its debt investments and capital appreciation from its equity investments. As of September 30, 2014, the Company consists of 124 investments, 104 of which were in operating companies, one of which was in a senior loan fund vehicle and 19 of which were in private equity funds. The 19 investments in private equity funds represented less than 1% of the fair value of the Companys assets at September 30, 2014. The Company is externally managed and advised by Fifth Street Management LLC.