SLR Investment Corp. (NASDAQ:SLRC) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its holdings in shares of SLR Investment Corp. (NASDAQ:SLRC) by 6.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 44,882 shares of the financial services provider’s stock after selling 3,305 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in SLR Investment were worth $724,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Westend Capital Management LLC grew its position in SLR Investment by 71.3% in the fourth quarter. Westend Capital Management LLC now owns 7,406 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 3,082 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of SLR Investment during the 4th quarter valued at approximately $191,000. Wells Fargo & Company MN grew its position in shares of SLR Investment by 39.8% during the fourth quarter. Wells Fargo & Company MN now owns 12,480 shares of the financial services provider’s stock worth $202,000 after buying an additional 3,551 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of SLR Investment by 11.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,090 shares of the financial services provider’s stock worth $228,000 after buying an additional 1,432 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in SLR Investment in the fourth quarter valued at $243,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

SLR Investment Price Performance

NASDAQ SLRC opened at $15.68 on Wednesday. The stock has a market capitalization of $855.50 million, a P/E ratio of 8.86 and a beta of 0.90. 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 business’s fifty day moving average is $16.37 and its two-hundred day moving average is $16.36. SLR Investment Corp. has a 1 year low of $13.64 and a 1 year high of $17.94.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $55.58 million during the quarter, compared to analyst estimates of $57.08 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. On average, research analysts forecast that SLR Investment Corp. will post 1.76 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.46%. SLR Investment’s dividend payout ratio is currently 93.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLRC. JPMorgan Chase & Co. lowered their price objective on SLR Investment from $16.50 to $15.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on SLR Investment from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their price target on shares of SLR Investment from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Compass Point lifted their price objective on shares of SLR Investment from $16.50 to $17.25 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, SLR Investment has an average rating of “Hold” and a consensus price target of $15.65.

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.