SLR Investment (NASDAQ:SLRC) Sets New 1-Year High – Here’s What Happened

SLR Investment Corp. (NASDAQ:SLRC)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $16.94 and last traded at $16.90, with a volume of 25617 shares. The stock had previously closed at $16.84.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their target price on SLR Investment from $12.50 to $13.00 and gave the company 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 issued a hold rating to the stock. According to MarketBeat, SLR Investment presently has an average rating of “Hold” and a consensus target price of $15.25.

SLR Investment Price Performance

The firm has a market capitalization of $921.52 million, a P/E ratio of 9.54 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $16.49 and its 200-day moving average is $15.83.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results 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. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. The company had revenue of $59.77 million for the quarter, compared to analyst estimates of $58.48 million. During the same quarter last year, the company posted $0.42 EPS. 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 business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.71%. SLR Investment’s dividend payout ratio (DPR) is currently 92.66%.

Hedge Funds Weigh In On SLR Investment

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in SLR Investment by 1,683.6% in the third quarter. International Assets Investment Management LLC now owns 38,543 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 36,382 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of SLR Investment by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,336,411 shares of the financial services provider’s stock worth $20,113,000 after acquiring an additional 4,510 shares in the last quarter. Creative Planning bought a new stake in SLR Investment in the third quarter worth approximately $170,000. Jane Street Group LLC lifted 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 buying an additional 2,022 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SLR Investment during the 2nd quarter worth approximately $786,000. 35.32% of the stock is currently owned by institutional investors and hedge funds.

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.