Confluence Investment Management LLC boosted its holdings in SLR Investment Corp. (NASDAQ:SLRC – Free Report) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 186,928 shares of the financial services provider’s stock after purchasing an additional 1,556 shares during the period. Confluence Investment Management LLC’s holdings in SLR Investment were worth $2,813,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SLRC. International Assets Investment Management LLC bought a new position in SLR Investment during the second quarter worth $35,000. EverSource Wealth Advisors LLC bought a new position in shares of SLR Investment during the 2nd quarter worth about $47,000. Creative Planning acquired a new stake in shares of SLR Investment in the 3rd quarter valued at about $170,000. Mercer Global Advisors Inc. ADV bought a new stake in SLR Investment in the 2nd quarter valued at about $210,000. Finally, SG Americas Securities LLC acquired a new position in SLR Investment during the 1st quarter worth approximately $342,000. 35.32% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have commented on SLRC shares. Wells Fargo & Company decreased their price target on shares of SLR Investment from $13.00 to $12.50 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. StockNews.com initiated coverage on SLR Investment in a report on Tuesday, July 23rd. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered SLR Investment from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $15.50 to $15.00 in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.13.
SLR Investment Stock Performance
Shares of SLRC stock opened at $16.17 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $882.15 million, a price-to-earnings ratio of 9.14 and a beta of 1.12. SLR Investment Corp. has a 52 week low of $14.41 and a 52 week high of $16.77. The firm’s 50-day simple moving average is $15.31 and its two-hundred day simple moving average is $15.67.
SLR Investment (NASDAQ:SLRC – Get Free Report) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $58.98 million during the quarter, compared to the consensus estimate of $58.23 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. During the same period last year, the business posted $0.42 earnings per share. As a group, equities analysts forecast that SLR Investment Corp. will post 1.75 earnings per share for the current year.
SLR Investment Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date is Friday, December 13th. SLR Investment’s payout ratio is currently 92.66%.
SLR Investment Company 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.
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