SLR Investment Corp. (NASDAQ:SLRC – Get Free Report) shares saw unusually-strong trading volume on Monday . 765,743 shares were traded during mid-day trading, an increase of 107% from the previous session’s volume of 369,518 shares.The stock last traded at $12.6550 and had previously closed at $12.36.
Analyst Ratings Changes
SLRC has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday. Zacks Research lowered shares of SLR Investment from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of SLR Investment in a report on Friday, June 12th. Keefe, Bruyette & Woods lowered their target price on shares of SLR Investment from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Monday, March 30th. Finally, Wall Street Zen lowered shares of SLR Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, SLR Investment presently has a consensus rating of “Reduce” and a consensus price target of $14.10.
Check Out Our Latest Report on SLRC
SLR Investment Stock Up 2.7%
SLR Investment (NASDAQ:SLRC – Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). SLR Investment had a return on equity of 8.33% and a net margin of 41.81%.The firm had revenue of $47.14 million during the quarter, compared to analysts’ expectations of $54.01 million. Sell-side analysts predict that SLR Investment Corp. will post 1.33 earnings per share for the current year.
SLR Investment Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $0.31 dividend. The ex-dividend date was Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 9.8%. SLR Investment’s payout ratio is currently 75.61%.
Insiders Place Their Bets
In other news, insider Michael S. Gross acquired 10,000 shares of SLR Investment stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $13.09 per share, with a total value of $130,900.00. Following the completion of the acquisition, the insider owned 4,035,153 shares in the company, valued at $52,820,152.77. This trade represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in SLRC. Kelleher Financial Advisors purchased a new position in shares of SLR Investment in the 4th quarter valued at approximately $26,000. BNP Paribas Financial Markets grew its position in SLR Investment by 1,389.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,758 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,640 shares during the last quarter. International Assets Investment Management LLC bought a new position in SLR Investment during the 4th quarter worth $42,000. Russell Investments Group Ltd. purchased a new position in SLR Investment in the 3rd quarter worth $48,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in SLR Investment during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.
About SLR Investment
SLR Investment Corp. (NASDAQ: SLRC) is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.
SLR Investment Corp.
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