NewEdge Wealth LLC acquired a new position in shares of SLR Investment Corp. (NASDAQ:SLRC – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 101,573 shares of the financial services provider’s stock, valued at approximately $1,256,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in shares of SLR Investment by 1,389.8% in the third quarter. BNP Paribas Financial Markets now owns 1,758 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,640 shares during the period. N.E.W. Advisory Services LLC bought a new stake in SLR Investment in the second quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of SLR Investment in the 4th quarter valued at approximately $42,000. Russell Investments Group Ltd. bought a new stake in SLR Investment in the third quarter valued at $48,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of SLR Investment during the 4th quarter worth about $59,000. Institutional investors own 35.32% of the company’s stock.
Wall Street Analyst Weigh In
SLRC has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on SLR Investment from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, July 2nd. Weiss Ratings downgraded SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of SLR Investment from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research raised SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.10.
SLR Investment Trading Up 0.4%
Shares of NASDAQ:SLRC opened at $12.63 on Friday. The company’s 50-day moving average price is $12.75 and its two-hundred day moving average price is $13.80. SLR Investment Corp. has a one year low of $12.13 and a one year high of $16.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $689.03 million, a PE ratio of 9.36 and a beta of 0.64.
SLR Investment (NASDAQ:SLRC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $20.50 million during the quarter, compared to the consensus estimate of $48.82 million. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. On average, equities analysts forecast that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.
SLR Investment Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 9.8%. The ex-dividend date is Friday, September 11th. SLR Investment’s dividend payout ratio (DPR) is 91.85%.
SLR Investment Profile
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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