Van ECK Associates Corp Acquires 219,110 Shares of SLR Investment Corp. $SLRC

Van ECK Associates Corp lifted its holdings in SLR Investment Corp. (NASDAQ:SLRC) by 24.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,104,114 shares of the financial services provider’s stock after acquiring an additional 219,110 shares during the quarter. Van ECK Associates Corp’s holdings in SLR Investment were worth $13,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLRC. Inspire Investing LLC increased its holdings in SLR Investment by 2.3% during the fourth quarter. Inspire Investing LLC now owns 30,238 shares of the financial services provider’s stock valued at $467,000 after buying an additional 688 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of SLR Investment by 4.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,902 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 824 shares during the period. NewEdge Wealth LLC increased its holdings in shares of SLR Investment by 0.9% in the 4th quarter. NewEdge Wealth LLC now owns 96,455 shares of the financial services provider’s stock valued at $1,491,000 after acquiring an additional 881 shares during the period. Commonwealth Equity Services LLC raised its position in shares of SLR Investment by 0.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 157,089 shares of the financial services provider’s stock worth $2,429,000 after acquiring an additional 997 shares in the last quarter. Finally, Triad Investment Management raised its position in shares of SLR Investment by 0.8% in the 1st quarter. Triad Investment Management now owns 125,814 shares of the financial services provider’s stock worth $1,800,000 after acquiring an additional 1,000 shares in the last quarter. 35.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLRC shares. Wells Fargo & Company dropped their price objective on SLR Investment from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen lowered shares of SLR Investment from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. B. Riley Financial cut shares of SLR Investment from a “strong-buy” rating to a “hold” rating in a report 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. Finally, Zacks Research upgraded shares of SLR Investment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.10.

SLR Investment Trading Up 1.8%

SLR Investment stock opened at $12.74 on Tuesday. 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 stock has a market cap of $695.09 million, a PE ratio of 9.44 and a beta of 0.64. The stock has a 50-day moving average of $12.77 and a two-hundred day moving average of $13.68. SLR Investment Corp. has a one year low of $12.13 and a one year high of $16.83.

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, hitting the consensus estimate of $0.33. The business had revenue of $20.50 million during the quarter, compared to the consensus estimate of $48.82 million. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. On average, research analysts anticipate that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.

SLR Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 9.7%. SLR Investment’s payout ratio is currently 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.