SLR Investment (NASDAQ:SLRC) Announces Quarterly Earnings Results, Misses Expectations By $0.18 EPS

SLR Investment (NASDAQ:SLRC) released its quarterly earnings data on Tuesday. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.18), FiscalAI reports. The firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $48.82 million. SLR Investment had a net margin of 41.81% and a return on equity of 8.33%.

SLR Investment Stock Performance

Shares of SLRC stock traded up $0.18 during trading hours on Tuesday, reaching $13.18. The company had a trading volume of 408,451 shares, compared to its average volume of 384,892. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average price of $12.80 and a 200-day moving average price of $14.02. SLR Investment has a one year low of $12.13 and a one year high of $16.83. The firm has a market cap of $719.03 million, a PE ratio of 8.04 and a beta of 0.64.

Insiders Place Their Bets

In related news, insider Michael S. Gross bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $13.09 per share, for a total transaction of $130,900.00. Following the completion of the acquisition, the insider owned 4,035,153 shares of the company’s stock, valued at $52,820,152.77. This trade represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLR Investment

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new stake in shares of SLR Investment during the 4th quarter valued at about $269,000. Wells Fargo & Company MN boosted its holdings in shares of SLR Investment by 73.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,483 shares of the financial services provider’s stock worth $270,000 after buying an additional 7,427 shares during the last quarter. Smithbridge Asset Management Inc. DE bought a new stake in SLR Investment during the fourth quarter valued at approximately $278,000. Brevan Howard Capital Management LP increased its holdings in SLR Investment by 100.2% during the third quarter. Brevan Howard Capital Management LP now owns 23,978 shares of the financial services provider’s stock valued at $367,000 after buying an additional 11,999 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in SLR Investment by 4.3% in the third quarter. Envestnet Asset Management Inc. now owns 19,902 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 824 shares during the period. 35.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLRC. Wall Street Zen downgraded shares of SLR Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research lowered shares of SLR Investment from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings cut SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. cut their target price on SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reduced their target price on SLR Investment from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $14.10.

About SLR Investment

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.