Denali Advisors LLC Sells 2,981 Shares of SLR Investment Corp. $SLRC

Denali Advisors LLC decreased its holdings in SLR Investment Corp. (NASDAQ:SLRC) by 2.2% in the second quarter, Holdings Channel reports. The firm owned 129,744 shares of the financial services provider’s stock after selling 2,981 shares during the quarter. Denali Advisors LLC’s holdings in SLR Investment were worth $2,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SLRC. Flagship Harbor Advisors LLC boosted its stake in shares of SLR Investment by 12.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 18,169 shares of the financial services provider’s stock worth $306,000 after buying an additional 2,069 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of SLR Investment in the 1st quarter worth $637,000. Westend Capital Management LLC boosted its stake in shares of SLR Investment by 9.4% in the 1st quarter. Westend Capital Management LLC now owns 8,099 shares of the financial services provider’s stock worth $137,000 after buying an additional 693 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of SLR Investment by 23.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 176,213 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 32,971 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of SLR Investment in the 1st quarter worth $293,000. Institutional investors own 35.32% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrea Colvin Roberts bought 7,190 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average cost of $16.73 per share, for a total transaction of $120,288.70. Following the completion of the transaction, the director owned 7,190 shares of the company’s stock, valued at approximately $120,288.70. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLRC. Wells Fargo & Company restated an “underweight” rating and issued a $13.00 price target (up from $12.00) on shares of SLR Investment in a research note on Tuesday, August 12th. Weiss Ratings restated a “buy (b-)” rating on shares of SLR Investment in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price target on SLR Investment from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Wall Street Zen downgraded SLR Investment from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.11.

SLR Investment Price Performance

NASDAQ SLRC opened at $14.42 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.18. The business’s fifty day moving average is $15.72 and its 200 day moving average is $15.94. SLR Investment Corp. has a fifty-two week low of $13.64 and a fifty-two week high of $17.94.

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

SLR Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.41 per share. The ex-dividend date was Friday, September 12th. This represents a $1.64 annualized dividend and a yield of 11.4%. SLR Investment’s payout ratio is 101.23%.

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.