SLR Investment (NASDAQ:SLRC) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of SLR Investment (NASDAQ:SLRC) from a hold rating to a sell rating in a report published on Saturday morning.

Several other equities research analysts also recently weighed in on SLRC. JPMorgan Chase & Co. decreased their price target on shares of SLR Investment from $14.00 to $13.50 and set an “underweight” rating for the company in a research note on Thursday. Raymond James Financial set a $16.00 price target on shares of SLR Investment and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Compass Point 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 report on Tuesday, March 10th. Keefe, Bruyette & Woods decreased their target price on shares of SLR Investment from $16.50 to $15.00 and set a “market perform” rating for the company in a research report on Monday, March 30th. Finally, Wells Fargo & Company decreased their target price on shares of SLR Investment from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.07.

SLR Investment Trading Down 1.2%

SLRC opened at $13.49 on Friday. SLR Investment has a 1-year low of $13.41 and a 1-year high of $17.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The company has a market cap of $736.01 million, a P/E ratio of 8.23 and a beta of 0.71. The company has a fifty day moving average price of $14.83 and a two-hundred day moving average price of $15.14.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). SLR Investment had a net margin of 41.81% and a return on equity of 8.33%. The company had revenue of $47.14 million during the quarter, compared to the consensus estimate of $54.01 million. Analysts predict that SLR Investment will post 1.4 EPS for the current fiscal year.

SLR Investment Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 9.2%. SLR Investment’s payout ratio is presently 100.00%.

Insider Activity at SLR Investment

In other news, insider Michael S. Gross purchased 10,452 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average cost of $13.90 per share, for a total transaction of $145,282.80. Following the completion of the acquisition, the insider owned 4,025,153 shares in the company, valued at $55,949,626.70. This trade represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kelleher Financial Advisors purchased a new position in SLR Investment during the fourth quarter worth about $26,000. BNP Paribas Financial Markets boosted its holdings in SLR Investment by 1,389.8% during the third quarter. BNP Paribas Financial Markets now owns 1,758 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,640 shares during the last quarter. CWM LLC boosted its holdings in SLR Investment by 215.6% during the third quarter. CWM LLC now owns 2,367 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,617 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in SLR Investment during the third quarter worth about $38,000. Finally, International Assets Investment Management LLC purchased a new position in SLR Investment during the fourth quarter worth about $42,000. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

About SLR Investment

SLR Investment Corp. (NASDAQ: SLRC) is a closed?end, externally managed business development company that provides customized debt and equity financing solutions to middle?market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co?investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor?backed transactions.

SLR Investment Corp.