SLR Investment (NASDAQ:SLRC) Now Covered by StockNews.com

StockNews.com began coverage on shares of SLR Investment (NASDAQ:SLRC) in a research note released on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

A number of other analysts have also issued reports on SLRC. B. Riley reiterated a neutral rating and issued a $17.00 price target (up previously from $16.00) on shares of SLR Investment in a report on Friday, May 10th. Keefe, Bruyette & Woods increased their price target on SLR Investment from $15.50 to $16.00 and gave the stock a market perform rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, SLR Investment presently has an average rating of Hold and a consensus price target of $15.25.

SLR Investment Trading Up 0.1 %

SLRC traded up $0.01 on Tuesday, hitting $15.90. The company had a trading volume of 23,424 shares, compared to its average volume of 160,680. The company has a market cap of $867.50 million, a PE ratio of 8.93 and a beta of 1.13. SLR Investment has a 12-month low of $13.93 and a 12-month high of $16.77. The business’s fifty day simple moving average is $16.17 and its 200 day simple moving average is $15.56. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.17.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $58.10 million for the quarter, compared to analyst estimates of $58.96 million. SLR Investment had a net margin of 41.66% and a return on equity of 9.51%. Equities research analysts expect that SLR Investment will post 1.74 EPS for the current year.

SLR Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.64 dividend on an annualized basis and a yield of 10.31%. SLR Investment’s dividend payout ratio is currently 92.13%.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum purchased 56,584 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was acquired at an average price of $12.80 per share, for a total transaction of $724,275.20. Following the acquisition, the chairman now directly owns 184,803 shares of the company’s stock, valued at $2,365,478.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Andrea Colvin Roberts bought 25,000 shares of SLR Investment stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $15.98 per share, with a total value of $399,500.00. Following the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $399,500. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Leonard M. Tannenbaum bought 56,584 shares of the stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $12.80 per share, for a total transaction of $724,275.20. Following the completion of the transaction, the chairman now owns 184,803 shares of the company’s stock, valued at approximately $2,365,478.40. The disclosure for this purchase can be found here. In the last three months, insiders have bought 95,584 shares of company stock worth $1,255,125. Insiders own 8.20% of the company’s stock.

Institutional Trading of SLR Investment

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of SLR Investment by 8.0% in the first quarter. Van ECK Associates Corp now owns 918,196 shares of the financial services provider’s stock valued at $14,094,000 after purchasing an additional 68,320 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in SLR Investment in the 1st quarter valued at approximately $2,821,000. Truist Financial Corp acquired a new stake in SLR Investment during the 4th quarter valued at $310,000. Raymond James & Associates raised its holdings in shares of SLR Investment by 41.0% in the fourth quarter. Raymond James & Associates now owns 112,343 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 32,647 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in shares of SLR Investment by 6.5% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 80,400 shares of the financial services provider’s stock valued at $1,208,000 after acquiring an additional 4,875 shares in the last quarter. Institutional investors and hedge funds own 35.32% of the company’s stock.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.