Short Interest in Solar Senior Capital Ltd (NASDAQ:SUNS) Rises By 37.6%

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Solar Senior Capital Ltd (NASDAQ:SUNS) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 72,500 shares, an increase of 37.6% from the September 30th total of 52,700 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 38,800 shares, the short-interest ratio is presently 1.9 days.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC raised its holdings in Solar Senior Capital by 1.5% in the 3rd quarter. Confluence Investment Management LLC now owns 69,047 shares of the asset manager’s stock valued at $1,226,000 after buying an additional 992 shares during the period. Manchester Capital Management LLC purchased a new stake in Solar Senior Capital in the 2nd quarter valued at about $32,000. Marshall Wace LLP purchased a new stake in Solar Senior Capital in the 1st quarter valued at about $42,000. Advisor Group Inc. raised its holdings in Solar Senior Capital by 48.4% in the 2nd quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock valued at $146,000 after buying an additional 3,006 shares during the period. Finally, AllSquare Wealth Management LLC raised its holdings in Solar Senior Capital by 65.6% in the 3rd quarter. AllSquare Wealth Management LLC now owns 10,600 shares of the asset manager’s stock valued at $188,000 after buying an additional 4,200 shares during the period. Hedge funds and other institutional investors own 19.99% of the company’s stock.

SUNS has been the topic of several analyst reports. Zacks Investment Research lowered Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Maxim Group reiterated a “buy” rating and set a $19.00 price target on shares of Solar Senior Capital in a report on Wednesday, November 6th. Finally, BidaskClub lowered Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 9th.

Shares of NASDAQ SUNS traded down $0.05 during trading on Friday, hitting $17.72. 528 shares of the company were exchanged, compared to its average volume of 34,685. Solar Senior Capital has a 12-month low of $14.50 and a 12-month high of $18.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average price of $17.45 and a 200-day moving average price of $16.90. The firm has a market capitalization of $283.68 million, a PE ratio of 12.57 and a beta of 0.59.

Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Solar Senior Capital had a return on equity of 8.59% and a net margin of 35.72%. The business had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.89 million. Research analysts anticipate that Solar Senior Capital will post 1.39 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, November 21st will be issued a $0.117 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.40 annualized dividend and a yield of 7.92%. Solar Senior Capital’s dividend payout ratio (DPR) is currently 100.00%.

About Solar Senior Capital

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

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