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

SLR Investment Corp. (NASDAQ:SLRC) shares hit a new 52-week high during trading on Friday . The company traded as high as $16.83 and last traded at $16.77, with a volume of 54200 shares trading hands. The stock had previously closed at $16.61.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their price objective on SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.25.

SLR Investment Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50 day moving average price is $15.56 and its 200-day moving average price is $15.75. The firm has a market cap of $913.80 million, a price-to-earnings ratio of 9.46 and a beta of 1.12.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $59.77 million for the quarter, compared to analysts’ expectations of $58.48 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities analysts expect that SLR Investment Corp. will post 1.76 EPS for the current year.

SLR Investment Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 9.79%. The ex-dividend date is Friday, December 13th. SLR Investment’s dividend payout ratio (DPR) is presently 92.66%.

Institutional Trading of SLR Investment

A number of institutional investors and hedge funds have recently modified their holdings of SLRC. Sunbelt Securities Inc. boosted its holdings in shares of SLR Investment by 12.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 100,576 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 11,510 shares during the period. Jane Street Group LLC boosted its stake in SLR Investment by 15.0% in the third quarter. Jane Street Group LLC now owns 15,541 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 2,022 shares during the period. Paloma Partners Management Co bought a new position in shares of SLR Investment during the third quarter valued at approximately $210,000. Quantbot Technologies LP acquired a new stake in shares of SLR Investment during the 3rd quarter worth approximately $90,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of SLR Investment in the 3rd quarter worth approximately $353,000. 35.32% of the stock is owned by institutional investors and hedge funds.

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.