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

Shares of SLR Investment Corp. (NASDAQ:SLRC) reached a new 52-week low during trading on Monday. The stock traded as low as $11.18 and last traded at $11.1610, with a volume of 47,925 shares trading hands. The stock had previously closed at $11.38.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLRC shares. B. Riley Financial lowered shares of SLR Investment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of SLR Investment from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research raised shares of SLR Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. cut their price target on SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.10.

SLR Investment Trading Down 0.3%

The firm has a market cap of $606.71 million, a price-to-earnings ratio of 8.24 and a beta of 0.69. The company’s 50-day moving average price is $12.09 and its 200-day moving average price is $13.00. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.17.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. The firm had revenue of $20.50 million during the quarter, compared to the consensus estimate of $48.82 million. Equities analysts expect that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.

SLR Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 11.2%. The ex-dividend date was Friday, September 11th. SLR Investment’s dividend payout ratio is currently 91.85%.

Insider Buying and Selling

In other news, insider Michael Gross bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average price of $12.35 per share, with a total value of $247,000.00. Following the purchase, the insider owned 4,065,153 shares in the company, valued at approximately $50,204,639.55. The trade was a 0.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLRC. Thornburg Investment Management Inc. grew its holdings in SLR Investment by 1.6% during the 2nd quarter. Thornburg Investment Management Inc. now owns 4,708,772 shares of the financial services provider’s stock valued at $58,248,000 after buying an additional 75,341 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of SLR Investment by 7,441.0% in the third quarter. Sound Income Strategies LLC now owns 1,629,154 shares of the financial services provider’s stock worth $18,735,000 after acquiring an additional 1,607,550 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of SLR Investment by 24.8% in the second quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider’s stock worth $13,658,000 after acquiring an additional 219,110 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of SLR Investment in the second quarter valued at $5,516,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of SLR Investment by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 378,888 shares of the financial services provider’s stock valued at $5,422,000 after acquiring an additional 1,619 shares in the last quarter. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a closed-end business development company that provides financing to middle-market companies. The company primarily invests in privately held businesses through senior secured loans, including first-lien and unitranche loans, and may also make subordinated debt and equity investments.

SLR Investment focuses on companies with established operations across a range of industries. Its investment strategy is designed to provide businesses with capital for acquisitions, recapitalizations, growth initiatives, refinancings and other general corporate purposes.