Key Points
- Insider purchase: Michael Gross bought 20,000 SLR Investment shares at $12.35 each, investing $247,000 and increasing his stake by 0.49% to approximately 4.07 million shares.
- Stock and dividend: Shares opened at $12.08, near the 12-month low, while the company’s $0.31 quarterly dividend implies a 10.3% annualized yield.
- Analyst outlook: SLR Investment has a consensus “Hold” rating, with two Buy, four Hold, and two Sell recommendations and an average price target of $14.10.
SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) insider Michael Gross acquired 20,000 shares of the company's stock in a transaction on Thursday, September 10th. The stock was acquired at an average cost of $12.35 per share, for a total transaction of $247,000.00. Following the completion of the purchase, the insider directly owned 4,065,153 shares of the company's stock, valued at approximately $50,204,639.55. This represents a 0.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
SLR Investment Trading Down 1.9%
Shares of SLR Investment stock opened at $12.08 on Friday. The stock has a fifty day simple moving average of $12.79 and a 200 day simple moving average of $13.54. SLR Investment Corp. has a 12-month low of $11.98 and a 12-month high of $16.48. The company has a market capitalization of $659.08 million, a P/E ratio of 8.95 and a beta of 0.64. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17.
SLR Investment (NASDAQ:SLRC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 EPS for the quarter, meeting analysts' consensus estimates of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%.The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $48.82 million. On average, sell-side analysts anticipate that SLR Investment Corp. will post 1.31 earnings per share 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. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 10.3%. SLR Investment's dividend payout ratio is currently 91.85%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of SLR Investment from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. B. Riley Financial lowered shares of SLR Investment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. cut their target price on SLR Investment from $13.50 to $12.00 and set an "underweight" rating on the stock in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, SLR Investment has a consensus rating of "Hold" and an average price target of $14.10.
View Our Latest Stock Analysis on SLRC
Institutional Investors Weigh In On SLR Investment
A number of hedge funds have recently made changes to their positions in the business. Thornburg Investment Management Inc. boosted its holdings in shares of SLR Investment by 1.6% in the 2nd quarter. Thornburg Investment Management Inc. now owns 4,708,772 shares of the financial services provider's stock worth $58,248,000 after buying an additional 75,341 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in SLR Investment by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,357,679 shares of the financial services provider's stock worth $20,990,000 after buying an additional 15,264 shares during the last quarter. Van ECK Associates Corp raised its position in SLR Investment by 24.8% in the second quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider's stock worth $13,658,000 after acquiring an additional 219,110 shares during the period. UBS Group AG raised its position in SLR Investment by 15.5% in the fourth quarter. UBS Group AG now owns 577,728 shares of the financial services provider's stock worth $8,932,000 after acquiring an additional 77,705 shares during the period. Finally, Franklin Resources Inc. boosted its stake in SLR Investment by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 449,290 shares of the financial services provider's stock valued at $6,946,000 after acquiring an additional 33,185 shares during the last quarter. 35.32% of the stock is currently owned by institutional investors.
About SLR Investment
(
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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