Key Points
- Insider buying: SLR Investment insider Michael Gross bought 10,000 shares at $13.09 each, spending $130,900 and slightly increasing his ownership stake.
- Quarterly results disappointed: The company reported EPS of $0.33 versus the $0.40 consensus estimate, and revenue of $47.14 million versus expectations of $54.01 million.
- Dividend remains high but analysts are cautious: SLR Investment cut its quarterly dividend to $0.31 per share, implying a 9.6% annual yield, while several analysts downgraded the stock and the consensus rating is now “Reduce.”
SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) insider Michael Gross bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $13.09 per share, for a total transaction of $130,900.00. Following the transaction, the insider owned 4,035,153 shares in the company, valued at $52,820,152.77. This represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
SLR Investment Stock Down 0.5%
Shares of SLR Investment stock opened at $12.93 on Friday. SLR Investment Corp. has a one year low of $12.82 and a one year high of $17.19. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock's 50-day moving average is $14.66 and its 200 day moving average is $15.09. The firm has a market cap of $705.46 million, a price-to-earnings ratio of 7.88 and a beta of 0.71.
SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). SLR Investment had a net margin of 41.81% and a return on equity of 8.33%. The business had revenue of $47.14 million for the quarter, compared to the consensus estimate of $54.01 million. Equities research analysts anticipate that SLR Investment Corp. will post 1.33 EPS for the current year.
SLR Investment Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Friday, June 12th. SLR Investment's dividend payout ratio (DPR) is 100.00%.
Analysts Set New Price Targets
SLRC has been the topic of a number of recent analyst reports. Wall Street Zen lowered SLR Investment from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on SLR Investment from $14.00 to $13.50 and set an "underweight" rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $16.00 target price on SLR Investment and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Zacks Research downgraded SLR Investment from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company decreased their target price on SLR Investment from $12.00 to $11.00 and set an "underweight" rating for the company in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $14.40.
Read Our Latest Analysis on SLR Investment
Institutional Trading of SLR Investment
A number of large investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in SLR Investment by 2.2% in the third quarter. Chicago Partners Investment Group LLC now owns 30,599 shares of the financial services provider's stock worth $474,000 after buying an additional 672 shares during the last quarter. Inspire Investing LLC grew its position in shares of SLR Investment by 2.3% in the fourth quarter. Inspire Investing LLC now owns 30,238 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 688 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of SLR Investment by 4.3% in the third quarter. Envestnet Asset Management Inc. now owns 19,902 shares of the financial services provider's stock valued at $304,000 after purchasing an additional 824 shares in the last quarter. NewEdge Wealth LLC grew its position in shares of SLR Investment by 0.9% in the fourth quarter. NewEdge Wealth LLC now owns 96,455 shares of the financial services provider's stock valued at $1,491,000 after purchasing an additional 881 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in shares of SLR Investment by 4.9% in the third quarter. Flagship Harbor Advisors LLC now owns 19,677 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 915 shares in the last quarter. 35.32% of the stock is owned by hedge funds and other institutional investors.
SLR Investment Company Profile
(
Get Free Report)
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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