Silver Spike Investment (NASDAQ:SSIC) Issues Quarterly Earnings Results

Silver Spike Investment (NASDAQ:SSIC) posted its quarterly earnings results on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28, Yahoo Finance reports. The business had revenue of $3.66 million for the quarter, compared to analysts’ expectations of $3.38 million. Silver Spike Investment had a return on equity of 7.47% and a net margin of 61.51%.

Silver Spike Investment Stock Down 2.5 %

Shares of Silver Spike Investment stock opened at $9.61 on Friday. Silver Spike Investment has a 12-month low of $7.29 and a 12-month high of $10.47. The stock has a market cap of $59.73 million, a P/E ratio of 8.21 and a beta of 0.42. The business’s 50 day moving average is $8.96 and its 200-day moving average is $9.13.

Silver Spike Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.41%. Silver Spike Investment’s payout ratio is presently 85.47%.

Hedge Funds Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC purchased a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned 1.81% of Silver Spike Investment at the end of the most recent quarter. Institutional investors and hedge funds own 4.36% of the company’s stock.

Silver Spike Investment Company Profile

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.