SLR Investment (NASDAQ:SLRC) Price Target Cut to $13.00 by Analysts at B. Riley Financial

SLR Investment (NASDAQ:SLRC) had its target price cut by B. Riley Financial from $14.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

SLRC has been the topic of several other reports. Zacks Research raised shares of SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded SLR Investment from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLR Investment in a research report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.92.

SLR Investment Stock Down 1.4%

Shares of SLRC traded down $0.17 during mid-day trading on Friday, hitting $11.81. 479,412 shares of the company’s stock were exchanged, compared to its average volume of 391,389. The company has a market cap of $644.35 million, a PE ratio of 11.14 and a beta of 0.69. SLR Investment has a 52 week low of $10.96 and a 52 week high of $16.36. The company has a 50-day simple moving average of $11.80 and a 200 day simple moving average of $13.33. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.09.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share (EPS) 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 $49.34 million for the quarter, compared to the consensus estimate of $48.93 million. On average, research analysts forecast that SLR Investment will post 1.31 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date is Monday, December 14th. SLR Investment’s payout ratio is presently 116.98%.

Insiders Place Their Bets

In other news, insider Michael Gross purchased 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider owned 4,065,153 shares of the company’s stock, valued at $50,204,639.55. The trade was a 0.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Trading of SLR Investment

A number of large investors have recently added to or reduced their stakes in the company. Triumph Capital Management increased its stake in shares of SLR Investment by 1.7% during the 3rd quarter. Triumph Capital Management now owns 55,758 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 944 shares during the last quarter. Confluence Investment Management LLC lifted its stake in SLR Investment by 1.5% in the 3rd quarter. Confluence Investment Management LLC now owns 64,841 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 988 shares during the last quarter. Triad Investment Management grew its holdings in SLR Investment by 0.8% during the first quarter. Triad Investment Management now owns 125,814 shares of the financial services provider’s stock worth $1,800,000 after purchasing an additional 1,000 shares during the period. Condor Capital Management grew its holdings in SLR Investment by 0.3% during the third quarter. Condor Capital Management now owns 463,815 shares of the financial services provider’s stock worth $5,376,000 after purchasing an additional 1,453 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in SLR Investment by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 378,888 shares of the financial services provider’s stock worth $5,422,000 after purchasing an additional 1,619 shares during the period. Institutional investors and hedge funds own 35.32% of the company’s stock.

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 seeks to support businesses that may have limited access to traditional bank financing by investing in a range of debt and equity securities.

Its investment activities generally focus on senior secured loans, subordinated debt, mezzanine investments and equity interests. SLR Investment typically partners with private equity sponsors and company management teams, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.