SLR Investment (NASDAQ:SLRC) Reaches New 12-Month Low – Here’s What Happened

SLR Investment Corp. (NASDAQ:SLRC)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $12.17 and last traded at $12.44, with a volume of 288638 shares changing hands. The stock had previously closed at $12.26.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of SLR Investment in a report on Friday, June 12th. Compass Point raised shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 price objective on the stock in a research note on Tuesday, March 10th. Wall Street Zen cut shares of SLR Investment from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on shares of SLR Investment from $14.00 to $13.50 and set an “underweight” rating for the company in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of SLR Investment from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Monday, March 30th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $14.40.

SLR Investment Price Performance

The firm has a market cap of $678.73 million, a P/E ratio of 7.59 and a beta of 0.64. The company has a fifty day moving average of $13.81 and a 200-day moving average of $14.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 1.04.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). SLR Investment had a return on equity of 8.33% and a net margin of 41.81%.The firm had revenue of $47.14 million for the quarter, compared to analysts’ expectations of $54.01 million. On average, sell-side analysts anticipate that SLR Investment Corp. will post 1.33 EPS for the current fiscal year.

SLR Investment Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, June 12th. This represents a $1.24 annualized dividend and a yield of 10.0%. SLR Investment’s payout ratio is 75.61%.

Insider Buying and Selling

In other news, insider Michael S. Gross acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $13.09 per share, for a total transaction of $130,900.00. Following the purchase, the insider owned 4,035,153 shares in the company, valued at approximately $52,820,152.77. This represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.80% of the company’s stock.

Institutional Trading of SLR Investment

Institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC raised its stake in shares of SLR Investment by 2.3% during the 4th quarter. Inspire Investing LLC now owns 30,238 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 688 shares during the period. Chicago Partners Investment Group LLC boosted its stake in SLR Investment by 2.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 31,299 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 700 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of SLR Investment by 4.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 19,902 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 824 shares during the period. NewEdge Wealth LLC increased its stake in shares of SLR Investment by 0.9% during the 4th quarter. NewEdge Wealth LLC now owns 96,455 shares of the financial services provider’s stock worth $1,491,000 after purchasing an additional 881 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of SLR Investment by 0.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 157,089 shares of the financial services provider’s stock worth $2,429,000 after purchasing an additional 997 shares during the period. 35.32% of the stock is owned by hedge funds and other institutional investors.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.