Raymond James Financial Inc. Raises Stock Position in SLR Investment Corp. $SLRC

Raymond James Financial Inc. grew its holdings in SLR Investment Corp. (NASDAQ:SLRC) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 317,325 shares of the financial services provider’s stock after acquiring an additional 34,813 shares during the period. Raymond James Financial Inc.’s holdings in SLR Investment were worth $5,350,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Condor Capital Management increased its stake in SLR Investment by 14.8% during the 1st quarter. Condor Capital Management now owns 332,664 shares of the financial services provider’s stock worth $5,609,000 after buying an additional 42,851 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in SLR Investment by 35.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,649 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 9,921 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of SLR Investment in the 1st quarter valued at about $1,031,000. N.E.W. Advisory Services LLC acquired a new position in shares of SLR Investment in the 1st quarter valued at about $31,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of SLR Investment by 222.3% in the 1st quarter. Mackenzie Financial Corp now owns 45,776 shares of the financial services provider’s stock valued at $772,000 after buying an additional 31,575 shares during the period. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Stock Up 0.8%

SLR Investment stock opened at $16.69 on Friday. The firm’s 50 day simple moving average is $16.35 and its 200-day simple moving average is $16.37. SLR Investment Corp. has a fifty-two week low of $13.64 and a fifty-two week high of $17.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.08 and a quick ratio of 1.08.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). SLR Investment had a net margin of 39.93% and a return on equity of 9.26%. The company had revenue of $53.91 million for the quarter, compared to analysts’ expectations of $53.38 million. Analysts anticipate that SLR Investment Corp. will post 1.76 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend is Friday, September 12th. SLR Investment’s payout ratio is currently 101.23%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. B. Riley assumed coverage on shares of SLR Investment in a report on Tuesday, May 13th. They issued a “buy” rating and a $17.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of SLR Investment from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Thursday, August 7th. LADENBURG THALM/SH SH raised shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research note on Monday, May 12th. Raymond James Financial reduced their target price on shares of SLR Investment from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $13.00 price target (up from $12.00) on shares of SLR Investment in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.25.

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.