SLR Investment (NASDAQ:SLRC) Shares Gap Down to $15.60

SLR Investment Corp. (NASDAQ:SLRC)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.60, but opened at $15.27. SLR Investment shares last traded at $15.30, with a volume of 70,509 shares traded.

Wall Street Analyst Weigh In

SLRC has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on SLR Investment from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. StockNews.com began coverage on SLR Investment in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered SLR Investment from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, SLR Investment currently has an average rating of “Hold” and an average target price of $15.25.

SLR Investment Trading Down 1.5 %

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $838.04 million, a PE ratio of 8.76 and a beta of 1.13. The company has a 50 day simple moving average of $15.65 and a two-hundred day simple moving average of $15.65.

SLR Investment (NASDAQ:SLRC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. SLR Investment had a return on equity of 9.65% and a net margin of 42.99%. The business had revenue of $58.98 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Analysts expect that SLR Investment Corp. will post 1.75 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 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.41 per share. The ex-dividend date is Friday, September 13th. This represents a $1.64 annualized dividend and a dividend yield of 10.68%. SLR Investment’s dividend payout ratio is currently 92.13%.

Insider Buying and Selling at SLR Investment

In related news, President Robyn Tannenbaum acquired 3,000 shares of SLR Investment stock in a transaction on Thursday, July 11th. The stock was purchased at an average cost of $11.05 per share, with a total value of $33,150.00. Following the purchase, the president now directly owns 24,959 shares in the company, valued at $275,796.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Robyn Tannenbaum bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were acquired at an average cost of $11.05 per share, with a total value of $33,150.00. Following the transaction, the president now owns 24,959 shares of the company’s stock, valued at approximately $275,796.95. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Leonard M. Tannenbaum bought 56,584 shares of the stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $12.80 per share, with a total value of $724,275.20. Following the completion of the purchase, the chairman now directly owns 184,803 shares of the company’s stock, valued at $2,365,478.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,584 shares of company stock worth $855,625 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On SLR Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLRC. Natixis Advisors L.P. boosted its stake in shares of SLR Investment by 7.1% during the 4th quarter. Natixis Advisors L.P. now owns 17,418 shares of the financial services provider’s stock valued at $261,000 after buying an additional 1,154 shares during the period. Confluence Investment Management LLC lifted its holdings in SLR Investment by 0.9% in the second quarter. Confluence Investment Management LLC now owns 185,372 shares of the financial services provider’s stock valued at $2,983,000 after buying an additional 1,570 shares during the period. Wedbush Securities Inc. lifted its holdings in SLR Investment by 4.1% in the second quarter. Wedbush Securities Inc. now owns 40,900 shares of the financial services provider’s stock valued at $658,000 after buying an additional 1,616 shares during the period. Sunbelt Securities Inc. raised its holdings in SLR Investment by 1.9% in the second quarter. Sunbelt Securities Inc. now owns 89,066 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 1,683 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SLR Investment by 1.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,962 shares of the financial services provider’s stock worth $2,220,000 after purchasing an additional 1,897 shares during the period. Institutional investors own 35.32% of the company’s stock.

About SLR Investment

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.