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Will Insiders Be Tempted To Buy More FSK At The New 52-Week Low?

By Market News Video Staff, Tuesday, June 14, 1:06 PM ET
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In trading on Tuesday, shares of FS KKR Capital Corp (NYSE:FSK) touched a new 52-week low of $18.96/share. That's a $4.49 share price drop, or -19.15% decline from the 52-week high of $23.45 set back on 09/10/2021. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for FSK that means the stock would have to gain 23.68% to get back to the 52-week high. For a move like that, FS KKR Capital Corp would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as FSK shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, FSK has seen 8 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
03/02/2022 Brian R. Ford Director 2,500 $23.12 $57,800.00
03/07/2022 Daniel Pietrzak Co-President and CIO 4,000 $22.85 $91,418.80
03/08/2022 Barbara Adams Director 2,385 $22.54 $53,755.51
03/08/2022 James H. Kropp Director 1,000 $22.70 $22,700.00
03/14/2022 Brian Gerson Co-President 4,642 $22.60 $104,890.63
03/16/2022 Jerel A. Hopkins Director 450 $21.82 $9,817.42
05/11/2022 Daniel Pietrzak Co-President and CIO 5,000 $21.61 $108,038.00
05/11/2022 Richard I. Goldstein Director 2,000 $21.70 $43,400.00
05/17/2022 James H. Kropp Director 1,000 $21.92 $21,920.00
05/18/2022 Richard I. Goldstein Director 800 $21.80 $17,439.20
05/24/2022 Michael C. Forman Chief Executive Officer 5,488 $20.41 $112,021.06
05/27/2022 Brian Gerson Co-President 2,000 $21.74 $43,480.00
06/09/2022 Brian Gerson Co-President 4,000 $21.23 $84,920.00
06/09/2022 Jerel A. Hopkins Director 550 $21.20 $11,662.69

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where FSK has traded over the past year, with the 50-day and 200-day moving averages included.

FS KKR Capital Corp Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for FSK shares, which are presently showing a last trade of $19.43/share, slightly above the new 52-week low.

This Article's Word Cloud:   Adams   Barbara   Bargains   Brian   Capital   Cheaper   Chief   Corp   Daniel   Director   Executive   Ford   Forman   Gerson   Goldstein   Here   Hopkins   Insider   Insiders   James   Jerel   Kropp   Large   Pietrzak   President   Richard   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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