Morgan Stanley lowered its position in Solar Capital Ltd. (NASDAQ:SLRC) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,391 shares of the financial services provider’s stock after selling 62,089 shares during the quarter. Morgan Stanley’s holdings in Solar Capital were worth $6,336,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SLRC. JPMorgan Chase & Co. boosted its position in Solar Capital by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,552 shares of the financial services provider’s stock valued at $17,672,000 after acquiring an additional 106,198 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in Solar Capital by 4.4% during the 3rd quarter. Aristotle Capital Boston LLC now owns 542,230 shares of the financial services provider’s stock valued at $11,593,000 after acquiring an additional 22,981 shares in the last quarter. Resource America Inc. boosted its position in Solar Capital by 36.5% during the 3rd quarter. Resource America Inc. now owns 180,197 shares of the financial services provider’s stock valued at $3,853,000 after acquiring an additional 48,146 shares in the last quarter. Cliffwater LLC boosted its position in Solar Capital by 61.5% during the 3rd quarter. Cliffwater LLC now owns 143,358 shares of the financial services provider’s stock valued at $3,065,000 after acquiring an additional 54,616 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL boosted its position in Solar Capital by 15.8% during the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 118,285 shares of the financial services provider’s stock valued at $2,529,000 after acquiring an additional 16,150 shares in the last quarter. 59.01% of the stock is currently owned by institutional investors.
SLRC has been the subject of several analyst reports. BidaskClub lowered Solar Capital from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research lowered Solar Capital from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Finally, Oppenheimer initiated coverage on Solar Capital in a report on Wednesday, November 28th. They set a “buy” rating and a $23.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.67.
In other Solar Capital news, Director Steven Hochberg acquired 5,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The stock was purchased at an average price of $20.35 per share, for a total transaction of $101,750.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at approximately $508,750. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.
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About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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