SLR Investment (NASDAQ:SLRC) Shares Cross Above 200-Day Moving Average – Here’s Why

SLR Investment Corp. (NASDAQ:SLRC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.76 and traded as high as $16.41. SLR Investment shares last traded at $16.30, with a volume of 196,826 shares.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price objective on shares of SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.25.

SLR Investment Stock Down 0.4 %

The firm has a fifty day simple moving average of $16.12 and a 200 day simple moving average of $15.76. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $889.25 million, a PE ratio of 9.21 and a beta of 1.14.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $59.77 million during the quarter, compared to the consensus estimate of $58.48 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities research analysts predict that SLR Investment Corp. will post 1.76 EPS for the current year.

SLR Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 10.06%. The ex-dividend date of this dividend was Friday, December 13th. SLR Investment’s payout ratio is currently 92.66%.

Institutional Investors Weigh In On SLR Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Condor Capital Management acquired a new stake in SLR Investment during the 2nd quarter worth approximately $4,118,000. Strategic Financial Concepts LLC acquired a new stake in shares of SLR Investment in the second quarter worth $1,639,000. Van ECK Associates Corp raised its stake in shares of SLR Investment by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 999,291 shares of the financial services provider’s stock valued at $15,369,000 after acquiring an additional 63,321 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of SLR Investment by 109.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 113,893 shares of the financial services provider’s stock valued at $1,714,000 after acquiring an additional 59,492 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in SLR Investment during the 2nd quarter worth $786,000. 35.32% of the stock is currently owned by institutional investors and hedge funds.

SLR Investment Company Profile

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.