SLR Investment Corp. $SLRC Stock Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its holdings in shares of SLR Investment Corp. (NASDAQ:SLRC) by 7,441.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629,154 shares of the financial services provider’s stock after acquiring an additional 1,607,550 shares during the period. Sound Income Strategies LLC’s holdings in SLR Investment were worth $18,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SLRC. N.E.W. Advisory Services LLC bought a new stake in shares of SLR Investment in the 2nd quarter valued at about $28,000. Ascentis Independent Advisors purchased a new stake in shares of SLR Investment in the 1st quarter worth approximately $69,000. Rockefeller Capital Management L.P. boosted its stake in shares of SLR Investment by 211.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 4,292 shares in the last quarter. Allworth Financial LP bought a new position in shares of SLR Investment during the second quarter valued at approximately $93,000. Finally, Abel Hall LLC purchased a new position in SLR Investment during the first quarter valued at approximately $143,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

Insider Activity at SLR Investment

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 stock was purchased at an average price of $12.35 per share, with a total value of $247,000.00. Following the completion of the acquisition, the insider directly owned 4,065,153 shares of the company’s stock, valued at $50,204,639.55. This trade represents a 0.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.80% of the stock is owned by company insiders.

SLR Investment Stock Performance

SLRC stock traded down $0.13 during trading on Friday, reaching $11.37. The company had a trading volume of 374,377 shares, compared to its average volume of 379,801. The company has a market cap of $620.35 million, a price-to-earnings ratio of 8.42 and a beta of 0.69. SLR Investment Corp. has a twelve month low of $11.23 and a twelve month high of $16.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day simple moving average of $12.34 and a 200-day simple moving average of $13.16.

SLR Investment (NASDAQ:SLRC) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%.The company had revenue of $20.50 million during the quarter, compared to analyst estimates of $48.82 million. As a group, sell-side analysts expect that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 10.9%. The ex-dividend date was Friday, September 11th. SLR Investment’s dividend payout ratio (DPR) is presently 91.85%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLRC shares. JPMorgan Chase & Co. reduced their price objective on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a research note 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. Wall Street Zen upgraded SLR Investment from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Weiss Ratings lowered SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded SLR Investment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, SLR Investment has an average rating of “Hold” and an average price target of $14.10.

SLR Investment 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.