Director Keith Bethel of FS Credit Opportunities Corp. (NYSE:FSCO) has recently purchased additional shares of the company, according to the latest SEC filings. On March 13, 2024, Bethel acquired a total of 9,000 shares in two separate transactions, valued at approximately $52,178.
The first transaction involved the purchase of 6,500 shares at a price of $5.7971 per share. Following this acquisition, Bethel's direct holdings in the company increased to 11,500 shares. In a separate transaction on the same day, an additional 2,500 shares were purchased at a slightly higher price of $5.799 per share. These shares were bought indirectly through the reporting person's spouse's IRA account, as indicated in the footnotes of the SEC filing.
The combined transactions reflect a price range between $5.7971 and $5.799 for the shares acquired. The reported investments demonstrate a continued commitment from the director in the company's future, as reflected by the increase in his ownership stake.
Investors often monitor insider buying and selling activity as it can provide insights into the executives' confidence in the company's prospects. With these latest purchases, Bethel's actions may be interpreted as a positive signal regarding FS Credit Opportunities Corp.'s financial health and future performance.
InvestingPro Insights
Amidst the insider buying activity at FS Credit Opportunities Corp. (NYSE:FSCO), investors can glean additional insights from the latest InvestingPro data and tips. The company boasts a substantial market capitalization of $1.15 billion and has been rewarding its shareholders with a notable dividend yield of 12.41%, as of the last recorded date. This aligns with one of the InvestingPro Tips that highlights FSCO's significant dividend payouts to its shareholders, which can be particularly attractive for income-focused investors.
Another InvestingPro Tip for FSCO points out that the stock generally exhibits low price volatility, suggesting that it could be a stable addition to an investment portfolio. This is also reflected in the recent price movements, with a modest 1-week price total return of 2.11% and a slight 1-month price total return dip of -0.39%. However, looking at a broader time frame, the 6-month price total return stands at an impressive 17.44%, and the 1-year price total return is even more striking at 55.16%. Additionally, the stock is trading near its 52-week high, at 96.67% of that value, which may indicate strong market confidence and could be a factor in Director Keith Bethel's decision to increase his stake in the company.
While these metrics paint a picture of strength, it's also important to consider the InvestingPro Tip that mentions weak gross profit margins and a valuation that implies a poor free cash flow yield. Investors looking for a deeper analysis can explore more tips on InvestingPro, where they will find a total of 6 tips for FSCO, each providing a nuanced perspective on the company's financial health and market performance. To access these insights, visit: https://www.investing.com/pro/FSCO and take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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