Wells Fargo & Company Issues Positive Forecast for SLR Investment (NASDAQ:SLRC) Stock Price

SLR Investment (NASDAQ:SLRC) had its price target upped by Wells Fargo & Company from $12.50 to $13.00 in a research report report published on Tuesday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on SLRC. JPMorgan Chase & Co. lowered SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. StockNews.com initiated coverage on SLR Investment in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.25.

SLR Investment Price Performance

Shares of SLRC stock opened at $15.93 on Tuesday. SLR Investment has a fifty-two week low of $14.41 and a fifty-two week high of $16.77. The firm has a market capitalization of $869.14 million, a price-to-earnings ratio of 9.00 and a beta of 1.12. 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 stock’s 50-day simple moving average is $15.32 and its 200-day simple moving average is $15.69.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. The business had revenue of $59.77 million for the quarter, compared to analyst estimates of $58.48 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts forecast that SLR Investment will post 1.76 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.30%. The ex-dividend date is Friday, December 13th. SLR Investment’s dividend payout ratio (DPR) is 92.66%.

Institutional Investors Weigh In On SLR Investment

A number of institutional investors and hedge funds have recently modified their holdings of SLRC. Janney Montgomery Scott LLC lifted its holdings in shares of SLR Investment by 11.2% during the first quarter. Janney Montgomery Scott LLC now owns 56,531 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 5,692 shares during the period. SG Americas Securities LLC acquired a new position in SLR Investment in the first quarter valued at approximately $342,000. 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 acquiring an additional 1,570 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted 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 valued at $2,220,000 after acquiring an additional 1,897 shares during the period. Finally, Raymond James & Associates lifted its holdings in SLR Investment by 5.4% in the second quarter. Raymond James & Associates now owns 225,465 shares of the financial services provider’s stock valued at $3,628,000 after acquiring an additional 11,637 shares during the period. Institutional investors and hedge funds 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.