SLR Investment (NASDAQ:SLRC) Reaches New 1-Year Low – Here’s Why

SLR Investment Corp. (NASDAQ:SLRC)’s stock price reached a new 52-week low on Monday. The company traded as low as $11.18 and last traded at $11.1610, with a volume of 47,925 shares trading hands. The stock had previously closed at $11.38.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a report 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 raised shares of SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. B. Riley Financial lowered shares of SLR Investment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen cut SLR Investment from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.10.

SLR Investment Stock Performance

The business’s fifty day moving average price is $12.16 and its 200-day moving average price is $13.05. The stock has a market cap of $609.16 million, a PE ratio of 8.29 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.09.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. The company had revenue of $20.50 million for the quarter, compared to the consensus estimate of $48.82 million. As a group, equities research analysts forecast that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.

SLR Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 11.1%. SLR Investment’s payout ratio is currently 91.85%.

Insiders Place Their Bets

In other news, insider Michael Gross purchased 20,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $12.35 per share, with a total value of $247,000.00. Following the acquisition, the insider directly owned 4,065,153 shares of the company’s stock, valued at $50,204,639.55. This represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of SLR Investment

Hedge funds have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in SLR Investment in the second quarter valued at about $28,000. Ascentis Independent Advisors bought a new stake in shares of SLR Investment during the 1st quarter valued at about $69,000. Rockefeller Capital Management L.P. grew its stake in shares of SLR Investment by 211.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 4,292 shares during the period. Allworth Financial LP bought a new stake in shares of SLR Investment during the 2nd quarter valued at about $93,000. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in shares of SLR Investment during the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a closed-end business development company that provides financing to middle-market companies. The company primarily invests in privately held businesses through senior secured loans, including first-lien and unitranche loans, and may also make subordinated debt and equity investments.

SLR Investment focuses on companies with established operations across a range of industries. Its investment strategy is designed to provide businesses with capital for acquisitions, recapitalizations, growth initiatives, refinancings and other general corporate purposes.