Gilford Securities Downgrades Fifth Street Finance to Hold
Gilford Securities downgrades Fifth Street Finance (NASDAQ: FSC) from Buy to Hold and in a research report out today.
In the report, Gilford Securities writes, "Fifth Street Finance (Symbol: FSC) report 2012 Q1 Net Investment Income (NII) of $0.29 per share versus our estimate of $0.27 per share. Fifth Street recognized a gain of $1.3MM that resulted from the repurchase of their convertible notes at a discount to par. Without this one-time gain, which was taken into Net Investment Income, FSC's NII would have matched our $0.27 per share estimate."
Shares of Fifth Street Finance closed today at $10.22, up 0.59% from yesterday's close.
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