Condor Capital Management Invests $4.12 Million in SLR Investment Corp. (NASDAQ:SLRC)

Condor Capital Management bought a new position in shares of SLR Investment Corp. (NASDAQ:SLRC) during the second quarter, Holdings Channel.com reports. The fund bought 255,932 shares of the financial services provider’s stock, valued at approximately $4,118,000.

Several other institutional investors have also bought and sold shares of SLRC. Confluence Investment Management LLC bought a new stake in SLR Investment during the first quarter worth $2,821,000. Strategic Financial Concepts LLC bought a new position in SLR Investment in the 2nd quarter valued at $1,639,000. Van ECK Associates Corp grew its stake in SLR Investment by 8.0% in the 1st 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 during the period. Pullen Investment Management LLC bought a new position in SLR Investment in the 1st quarter valued at $809,000. Finally, Jump Financial LLC bought a new position in SLR Investment in the 4th quarter valued at $559,000. Institutional investors own 35.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SLRC shares. StockNews.com started coverage on SLR Investment in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Keefe, Bruyette & Woods upped their price target on SLR Investment from $15.50 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. cut SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their price target on SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.25.

Insider Buying and Selling

In other SLR Investment news, President Robyn Tannenbaum acquired 3,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the transaction, the president now directly owns 24,959 shares of the company’s stock, valued at $275,796.95. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Leonard M. Tannenbaum acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $87,300.00. Following the completion of the transaction, the chairman now directly owns 1,270,763 shares in the company, valued at approximately $11,093,760.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Robyn Tannenbaum bought 3,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the purchase, the president now owns 24,959 shares of the company’s stock, valued at approximately $275,796.95. The disclosure for this purchase can be found here. Insiders bought 70,584 shares of company stock valued at $855,625 over the last 90 days. Company insiders own 8.20% of the company’s stock.

SLR Investment Trading Down 1.3 %

SLRC opened at $15.39 on Friday. The stock has a market cap of $839.68 million, a PE ratio of 8.65 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $15.63 and a 200-day moving average of $15.65. SLR Investment Corp. has a 52 week low of $13.93 and a 52 week high of $16.77.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. SLR Investment had a return on equity of 9.65% and a net margin of 42.99%. The firm had revenue of $58.98 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Equities research analysts predict that SLR Investment Corp. will post 1.75 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.66%. The ex-dividend date of this dividend is Friday, September 13th. SLR Investment’s payout ratio is currently 92.13%.

SLR Investment Profile

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.