Rivernorth Capital Management LLC Buys Shares of 155,715 SLR Investment Corp. $SLRC

Rivernorth Capital Management LLC purchased a new position in shares of SLR Investment Corp. (NASDAQ:SLRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 155,715 shares of the financial services provider’s stock, valued at approximately $1,926,000.

Other hedge funds have also recently bought and sold shares of the company. Wedbush Securities Inc. raised its stake in SLR Investment by 8.2% during the 2nd quarter. Wedbush Securities Inc. now owns 58,539 shares of the financial services provider’s stock valued at $724,000 after acquiring an additional 4,419 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings in shares of SLR Investment by 1.6% in the 2nd quarter. Thornburg Investment Management Inc. now owns 4,708,772 shares of the financial services provider’s stock worth $58,248,000 after purchasing an additional 75,341 shares in the last quarter. Van ECK Associates Corp increased 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 valued at $13,658,000 after buying an additional 219,110 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of SLR Investment during the second quarter worth $2,070,000. Finally, Legal & General Group Plc acquired a new stake in SLR Investment during the 2nd quarter worth about $5,516,000. 35.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLRC. JPMorgan Chase & Co. decreased their price objective on SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, July 2nd. B. Riley Financial cut SLR Investment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded shares of SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Zacks Research upgraded SLR Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered SLR Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.10.

SLR Investment Price Performance

NASDAQ:SLRC opened at $12.52 on Monday. The stock has a market cap of $683.03 million, a price-to-earnings ratio of 9.27 and a beta of 0.64. SLR Investment Corp. has a 1 year low of $12.13 and a 1 year high of $16.83. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $12.76 and a two-hundred day moving average price of $13.70.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $48.82 million. As a group, equities analysts expect that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 9.9%. SLR Investment’s dividend payout ratio is presently 91.85%.

SLR Investment Profile

SLR Investment Corp. (NASDAQ: SLRC) is a closed?end, externally managed business development company that provides customized debt and equity financing solutions to middle?market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co?investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor?backed transactions.

SLR Investment Corp.