In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Fifth Street Finance Corp. (NASDAQ:FSC) reported that Oaktree Capital Management has picked up 27,044,419 of common stock as of 2017-07-21.
The acquisition brings the aggregate amount owned by Oaktree Capital Management to a total of 27,044,419 representing a 19.2% in the company.
For those not familiar with the company, Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments. The Company lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. The Company seeks to invest in companies in connection with private equity sponsors. The Company invests in sectors, such as healthcare services; Internet software and services; multi-sector holdings; advertising; airlines, and construction and engineering. Fifth Street Management LLC is the Company’s investment advisor.
A glance at Fifth Street Finance Corp. (NASDAQ:FSC)’s key stats reveals a current market capitalization of 758.38 Million based on 140.96 Million shares outstanding and a price at last close of $5.36 Per Share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-03-29, Tannenbaum picked up 102,000 at a purchase price of $4.71.This brings their total holding to 15,614,816 as of the date of the filing.
On the sell side, the most recent transaction saw Tannenbaum unload 46,583 shares at a sale price of $5.56. This brings their total holding to 12,035,056.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Fifth Street Finance Corp. (NASDAQ:FSC) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.