SLR Investment (NASDAQ:SLRC) Sets New 52-Week High – Here’s What Happened

SLR Investment Corp. (NASDAQ:SLRC)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $16.90 and last traded at $16.90, with a volume of 4102 shares trading hands. The stock had previously closed at $16.83.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price target on shares of SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, SLR Investment currently has an average rating of “Hold” and a consensus target price of $15.25.

SLR Investment Stock Performance

The firm has a market cap of $918.24 million, a P/E ratio of 9.51 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. The company’s fifty day moving average price is $15.78 and its two-hundred day moving average price is $15.77.

SLR Investment (NASDAQ:SLRC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $59.77 million for the quarter, compared to analyst estimates of $58.48 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. During the same period last year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict that SLR Investment Corp. will post 1.76 EPS for the current fiscal year.

SLR Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 9.74%. The ex-dividend date is Friday, December 13th. SLR Investment’s payout ratio is 92.66%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of SLR Investment by 6.8% in the third quarter. Van ECK Associates Corp now owns 999,291 shares of the financial services provider’s stock valued at $15,369,000 after acquiring an additional 63,321 shares during the last quarter. Condor Capital Management acquired a new stake in shares of SLR Investment in the 2nd quarter valued at approximately $4,118,000. Raymond James & Associates grew its stake in shares of SLR Investment by 11.5% in the third quarter. Raymond James & Associates now owns 251,495 shares of the financial services provider’s stock valued at $3,785,000 after buying an additional 26,030 shares in the last quarter. Confluence Investment Management LLC increased its holdings in SLR Investment by 0.8% during the third quarter. Confluence Investment Management LLC now owns 186,928 shares of the financial services provider’s stock worth $2,813,000 after buying an additional 1,556 shares during the last quarter. Finally, Muzinich & Co. Inc. grew its position in shares of SLR Investment by 3.8% in the 3rd quarter. Muzinich & Co. Inc. now owns 145,124 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 5,280 shares during the period. Institutional investors 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.