SLR Investment (NASDAQ:SLRC) Reaches New 1-Year Low – What’s Next?

SLR Investment Corp. (NASDAQ:SLRC) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $11.91 and last traded at $11.95, with a volume of 365040 shares changing hands. The stock had previously closed at $12.03.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, July 2nd. Weiss Ratings cut shares of SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, B. Riley Financial lowered SLR Investment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.10.

SLR Investment Trading Down 0.8%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $12.62 and a 200 day simple moving average of $13.35. The company has a market cap of $637.20 million, a price-to-earnings ratio of 8.65 and a beta of 0.64.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $48.82 million. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. On average, equities analysts anticipate that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.

SLR Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Friday, September 11th. SLR Investment’s dividend payout ratio (DPR) is presently 91.85%.

Insider Activity at SLR Investment

In other news, insider Michael Gross purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average price of $12.35 per share, for a total transaction of $247,000.00. Following the acquisition, the insider directly owned 4,065,153 shares in the company, valued at approximately $50,204,639.55. The trade was a 0.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On SLR Investment

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Closed End Fund Advisors Inc. purchased a new stake in shares of SLR Investment in the 4th quarter worth about $4,033,000. BlackRock Inc. purchased a new position in SLR Investment during the 2nd quarter valued at about $2,513,000. Clear Harbor Asset Management LLC acquired a new position in SLR Investment during the second quarter worth about $4,205,000. NewEdge Wealth LLC acquired a new position in SLR Investment during the second quarter worth about $1,256,000. Finally, Van ECK Associates Corp lifted its holdings in shares of SLR Investment by 24.8% in the second quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider’s stock valued at $13,658,000 after purchasing an additional 219,110 shares in the last quarter. 35.32% of the stock is owned by institutional investors and hedge funds.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company invests mainly in senior secured loans and other debt instruments, with a focus on businesses that may require flexible capital solutions to support acquisitions, growth, recapitalizations, refinancing, and other corporate initiatives.

SLR Investment may also make subordinated debt and equity investments, including investments alongside its lending activities.