SLR Investment (NASDAQ:SLRC) Stock Crosses Below 50-Day Moving Average – Here’s Why

SLR Investment Corp. (NASDAQ:SLRC) shares crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $11.73 and traded as low as $11.59. SLR Investment shares last traded at $11.61, with a volume of 268,656 shares trading hands.

Wall Street Analysts Forecast Growth

SLRC has been the subject of several research analyst reports. Wall Street Zen upgraded shares of SLR Investment from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLR Investment in a research report on Monday, October 26th. B. Riley Financial reduced their target price on SLR Investment from $14.00 to $13.00 and set a “buy” rating for the company in a report on Friday, November 6th. Finally, Zacks Research raised SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. 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 company has a consensus rating of “Hold” and an average target price of $13.92.

SLR Investment Trading Down 1.2%

The company has a debt-to-equity ratio of 1.14, a current ratio of 1.09 and a quick ratio of 1.08. The company has a market capitalization of $623.11 million, a price-to-earnings ratio of 10.95 and a beta of 0.69. The business’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $13.26.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. SLR Investment had a return on equity of 7.61% and a net margin of 28.75%. The firm had revenue of $49.34 million for the quarter, compared to analysts’ expectations of $48.93 million. Research analysts anticipate that SLR Investment Corp. will post 1.30 EPS for the current year.

SLR Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, December 14th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Monday, December 14th. SLR Investment’s dividend payout ratio is 116.98%.

Insider Activity

In other SLR Investment news, insider Michael Gross purchased 20,000 shares of SLR Investment stock in a transaction dated Thursday, September 10th. The stock was acquired 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new position in SLR Investment in the second quarter worth $28,000. Allworth Financial LP purchased a new stake in shares of SLR Investment during the 2nd quarter worth $93,000. Attessa Capital LLC purchased a new stake in shares of SLR Investment during the 2nd quarter worth $148,000. Park Avenue Securities LLC purchased a new stake in shares of SLR Investment during the 3rd quarter worth $150,000. Finally, Squarepoint Ops LLC acquired a new position in shares of SLR Investment during the 2nd quarter worth $169,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

About SLR Investment

SLR Investment Corp. is a business development company that provides financing to middle-market businesses. It primarily invests in privately held companies through loans and other debt instruments, with a focus on senior secured lending. The company’s financing may support business growth, acquisitions, refinancings, and recapitalizations. Its investments include senior secured and unitranche loans, as well as, in some cases, subordinated debt and equity interests. SLR Investment Corp. is externally managed by SLR Capital Partners and primarily serves businesses in the United States.