Virtus ETF Advisers LLC acquired a new stake in Solar Capital Ltd. (NASDAQ:SLRC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 133,690 shares of the financial services provider’s stock, valued at approximately $2,745,000. Virtus ETF Advisers LLC owned 0.32% of Solar Capital as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Arlington Partners LLC purchased a new position in shares of Solar Capital in the 2nd quarter valued at about $38,000. Pecaut & CO. purchased a new stake in Solar Capital during the first quarter worth approximately $221,000. Glassman Wealth Services purchased a new stake in Solar Capital during the first quarter worth approximately $165,000. Advisor Group Inc. lifted its stake in Solar Capital by 26.2% during the second quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Solar Capital during the first quarter worth approximately $208,000. Institutional investors and hedge funds own 57.86% of the company’s stock.
SLRC has been the subject of several recent analyst reports. BidaskClub cut Solar Capital from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Zacks Investment Research cut Solar Capital from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.70.
SLRC traded up $0.05 during trading on Thursday, hitting $20.87. 67,835 shares of the stock were exchanged, compared to its average volume of 100,882. The firm has a market capitalization of $884.73 million, a P/E ratio of 11.79, a PEG ratio of 3.92 and a beta of 0.70. Solar Capital Ltd. has a 1-year low of $18.45 and a 1-year high of $21.97. The stock has a fifty day moving average price of $20.51 and a two-hundred day moving average price of $20.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.60.
Solar Capital (NASDAQ:SLRC) last released its earnings results on Monday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $38.68 million for the quarter, compared to analyst estimates of $40.38 million. Solar Capital had a return on equity of 7.97% and a net margin of 46.63%. Analysts predict that Solar Capital Ltd. will post 1.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, September 19th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.86%. The ex-dividend date of this dividend is Wednesday, September 18th. Solar Capital’s payout ratio is currently 92.66%.
About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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