Legal & General Group Plc Makes New Investment in Stellus Capital Investment Corporation $SCM

Legal & General Group Plc bought a new stake in Stellus Capital Investment Corporation (NYSE:SCM) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 238,329 shares of the investment management company’s stock, valued at approximately $2,009,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gables Capital Management Inc. acquired a new position in shares of Stellus Capital Investment during the 2nd quarter worth $565,000. BlackRock Inc. purchased a new stake in Stellus Capital Investment in the 2nd quarter valued at approximately $922,000. Doliver Advisors LP grew its holdings in Stellus Capital Investment by 452.9% during the 2nd quarter. Doliver Advisors LP now owns 55,292 shares of the investment management company’s stock valued at $466,000 after buying an additional 45,292 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of Stellus Capital Investment in the second quarter worth $117,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Stellus Capital Investment by 31.5% in the first quarter. Sunbelt Securities Inc. now owns 203,190 shares of the investment management company’s stock valued at $1,871,000 after acquiring an additional 48,617 shares in the last quarter. Institutional investors and hedge funds own 13.22% of the company’s stock.

Stellus Capital Investment Stock Down 0.1%

NYSE SCM opened at $8.77 on Monday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.04. Stellus Capital Investment Corporation has a fifty-two week low of $6.83 and a fifty-two week high of $15.04. The business has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $8.96. The stock has a market cap of $249.77 million, a PE ratio of 8.60 and a beta of 0.67.

Stellus Capital Investment (NYSE:SCM) last posted its earnings results on Monday, August 10th. The investment management company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $30.98 million for the quarter, compared to analysts’ expectations of $24.38 million. Stellus Capital Investment had a net margin of 30.66% and a return on equity of 9.09%. As a group, sell-side analysts predict that Stellus Capital Investment Corporation will post 1.05 EPS for the current fiscal year.

Stellus Capital Investment Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.0833 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 11.4%. Stellus Capital Investment’s payout ratio is currently 98.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH decreased their price target on shares of Stellus Capital Investment from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Zacks Research upgraded Stellus Capital Investment from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods reduced their price target on Stellus Capital Investment from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, July 20th. Weiss Ratings upgraded Stellus Capital Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Stellus Capital Investment from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Stellus Capital Investment presently has a consensus rating of “Hold” and an average price target of $9.25.

Stellus Capital Investment Profile

Stellus Capital Investment Corporation (NYSE: SCM) is a closed-end, externally managed business development company that provides debt and equity financing to middle market companies in the United States. As an investment vehicle specializing in private credit, Stellus focuses on originating and structuring senior secured loans, unitranche facilities, mezzanine debt, and equity co-investments tailored to the unique needs of growing businesses. Its flexible capital solutions are designed to support acquisitions, recapitalizations, growth initiatives, and balance sheet refinancings.

Operating under an evergreen structure, Stellus Capital Investment partners with a diverse group of portfolio companies across industries such as manufacturing, healthcare, business services, and specialty finance.