Silver Spike Investment (NASDAQ:SSIC) Announces Earnings Results

Silver Spike Investment (NASDAQ:SSIC) released its quarterly earnings data on Wednesday. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28, Yahoo Finance reports. The firm had revenue of $3.66 million for the quarter, compared to the consensus estimate of $3.38 million. Silver Spike Investment had a net margin of 61.51% and a return on equity of 7.47%.

Silver Spike Investment Price Performance

Shares of NASDAQ SSIC opened at $9.61 on Friday. The firm’s 50-day moving average is $8.96 and its two-hundred day moving average is $9.13. The company has a market capitalization of $59.68 million, a PE ratio of 8.21 and a beta of 0.42. Silver Spike Investment has a 12-month low of $7.29 and a 12-month high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $1.00 annualized dividend and a dividend yield of 10.41%. Silver Spike Investment’s dividend payout ratio is presently 85.47%.

Hedge Funds Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC acquired a new stake in Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned 1.81% of Silver Spike Investment as of its most recent SEC filing. Hedge funds and other institutional investors own 4.36% of the company’s stock.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.