Solar Senior Capital (NASDAQ:SUNS) Lowered to “Sell” at BidaskClub

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BidaskClub downgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Several other brokerages also recently weighed in on SUNS. Zacks Investment Research downgraded shares of Solar Senior Capital from a buy rating to a hold rating in a research report on Thursday, October 10th. Maxim Group reiterated a buy rating and issued a $19.00 price objective on shares of Solar Senior Capital in a research report on Wednesday, November 6th.

NASDAQ SUNS traded down $0.02 during trading hours on Wednesday, reaching $18.01. 850 shares of the company traded hands, compared to its average volume of 30,623. Solar Senior Capital has a 12 month low of $14.50 and a 12 month high of $18.29. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $290.58 million, a PE ratio of 12.79 and a beta of 0.59. The company has a 50 day moving average of $17.77 and a two-hundred day moving average of $17.01.

Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Solar Senior Capital had a net margin of 35.72% and a return on equity of 8.59%. The company had revenue of $10.40 million for the quarter, compared to the consensus estimate of $10.89 million. On average, equities research analysts anticipate that Solar Senior Capital will post 1.38 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.1175 per share. This is a boost from Solar Senior Capital’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.41 annualized dividend and a yield of 7.83%. Solar Senior Capital’s dividend payout ratio (DPR) is presently 100.00%.

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in Solar Senior Capital during the 3rd quarter valued at about $233,000. AllSquare Wealth Management LLC increased its stake in Solar Senior Capital by 65.6% during 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. Confluence Investment Management LLC increased its stake in Solar Senior Capital by 1.5% during 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. Ladenburg Thalmann Financial Services Inc. increased its stake in Solar Senior Capital by 49.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,705 shares of the asset manager’s stock valued at $1,093,000 after buying an additional 22,790 shares during the period. Finally, Peapack Gladstone Financial Corp acquired a new position in Solar Senior Capital during the 2nd quarter valued at about $318,000. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

Solar Senior Capital Company Profile

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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