SLR Investment Corporation (NASDAQ:SLRC – Get Rating) saw a significant drop in short interest rates in December. As of December 15, there were a total of 459,400 shares shorted, down 26.7% from the November 30 total of 627,100 shares. Based on an average daily trading volume of 245,000 shares, the current short-term interest rate is 1.9 days.
Wall Street analyst opinion
Many research firms participate in SLRC. Compass Point upgraded SLR Investments’ shares from a ‘neutral’ rating to a ‘buy’ rating and set a price target of $15.75 in a research report on Wednesday, November 9. Wells Fargo & Company lowered its price target for SLR Investments from $12.00 to $11.50, giving the stock an “underweight” rating in its research report on Friday, November 4. Hovde Group lowered its price target for SLR Investments to $15.00 in a research report on Wednesday, Oct. 5. Finally, StockNews.com began coverage of his SLR Investment shares in his investigative report on Wednesday, October 12th. They set a “sell” rating on the stock. Two analysts gave the stock a sell rating, two issued a pending rating, and three assigned a buy rating to the stock. Based on MarketBeat.com data, SLR Investments currently has an average rating of ‘pending’ with a consensus price target of $15.89.
Insider activity
In related news, insider Bruce J. Spohler acquired 59,400 shares of SLR Investment in a transaction on Monday, December 5th. Shares were purchased at an average of $15.02 per share, with a total trading value of $892,188.00 for him. Following the closing of the transaction, the insider now owns directly his 3,249,327 shares in the company, valued at approximately $48,804,891.54. The transaction is disclosed in documents filed with the SEC and can be accessed via this hyperlink. In other news from SLR Investment, his insider, Bruce J. Spohler, purchased 59,400 shares of SLR Investment stock in a transaction that took place on Monday, December 5th. Shares were purchased at an average of $15.02 per share, with a total trading value of $892,188.00 for him. Following the closing of the transaction, insiders now own 3,249,327 shares of the Company’s stock valued at approximately $48,804,891.54. The acquisition was disclosed in filings with the U.S. Securities and Exchange Commission available at this hyperlink. Insider Michael S. Gross also purchased 17,932 shares of SLR Investment in a transaction that took place on Thursday, December 1st. Shares were acquired at an average price of $14.99 per share for a total transaction value of $268,800.68. After the transaction, insiders now directly own 2,961,423 shares of the company’s stock, valued at approximately $44,391,730.77. For disclosure of this purchase, please click here. The insider said last quarter he purchased a total of 84,190 shares of company stock worth $1,256,795. The insider owns his 7.40% of the company’s shares.
institution inflow and outflow
Several hedge funds and other institutional investors have recently increased or decreased their stakes in businesses. JPMorgan Chase & Co. increased its holdings in SLR Investments by 39.7% in the second quarter. JPMorgan Chase & Co. now owns 2,809,422 shares in the financial services provider worth $41,102,000 after acquiring an additional 797,719 shares in her last quarter. Ares Management LLC increased his SLR Investments holdings by 19.3% in the first quarter. Ares Management LLC now owns 1,895,303 shares of the financial services provider worth $34,362,000 after acquiring an additional 306,084 shares in the previous quarter. Aristotle Capital Boston LLC increased his SLR Investments holdings by 1.5% in the second quarter. Aristotle Capital Boston LLC now owns 1,735,808 shares of the financial services provider worth $25,395,000 after acquiring an additional 25,467 shares in the previous quarter. BlackRock Inc. increased his SLR investment holdings by 70.8% in the third quarter. BlackRock Inc. now owns 471,061 shares of the financial services provider worth $5,803,000 after acquiring an additional 195,228 shares in the previous quarter. Finally, First Republic Investment Management Inc. increased his SLR Investment stake by 127.3% in the second quarter. First Republic Investment Management Inc. now owns 432,822 shares of the financial services provider worth $6,332,000 after purchasing an additional 242,438 shares in the previous quarter. Currently 33.85% of the shares are owned by institutional investors.
SLR investment transactions down 0.2%
Shares of SLRC dropped $0.03 during Friday’s trading hours to reach $13.91. His 258,536 shares of the company traded, with an average turnover of 252,978 shares for him. The company has a market capitalization of $761.89 million, a price/earnings ratio of 99.36 and a beta of 1.10. His 12-month low for SLR investments is $12.08 and his 12-month high is $19.39. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt to equity ratio of 1.14. The stock has a 50-day moving average price of $14.17 and a 200-day moving average price of $14.31.
SLR Investments (NASDAQ:SLRC – Get Rating) announced final results on Wednesday, November 2nd. The financial services provider reported his earnings per share (EPS) of $0.37 for the quarter. This misses the analyst consensus forecast of his $0.39 ($0.02). The company posted $47.57 million in revenue for the quarter, compared to analysts’ expectations of $46.98 million. SLR Investments’ net profit margin was 3.43% and return on equity was 7.57%. The sell-side analyst expects SLR Investments to post earnings per share of 1.47 for the current year.
SLR Investments Announces Dividend
The company also recently announced a monthly dividend to be paid out on Thursday, January 5th. Dividends of $0.137 per share will be issued to shareholders of record on Thursday, December 22nd. This represents his $1.64 dividend and his 11.82% yield on an annualized basis. The ex-dividend date for this dividend is Wednesday, December 21. The payout percentage of the SLR investment is 1,171.43%.
About SLR investment
(get rating)
SLR Investment Corporation offers secured debt (first and second liens), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital, and a business development firm specializing in the management of strategic, profit-oriented equities. Investments in leveraged middle market companies.
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