SLR Investment (NASDAQ:SLRC) Posts Earnings Results, Misses Estimates By $0.07 EPS

SLR Investment (NASDAQ:SLRC) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07), Zacks reports. SLR Investment had a return on equity of 8.76% and a net margin of 42.34%.The company had revenue of $47.14 million during the quarter, compared to the consensus estimate of $54.01 million.

SLR Investment Stock Down 12.7%

Shares of NASDAQ:SLRC traded down $2.03 during midday trading on Wednesday, reaching $13.95. 2,041,999 shares of the company were exchanged, compared to its average volume of 340,416. The firm has a market cap of $760.84 million, a PE ratio of 8.20 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. SLR Investment has a fifty-two week low of $13.61 and a fifty-two week high of $17.19. The stock has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $15.14.

SLR Investment Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 8.9%. SLR Investment’s dividend payout ratio is currently 96.47%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised SLR Investment from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Wells Fargo & Company lowered their price target on SLR Investment from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, March 3rd. Raymond James Financial set a $16.00 price target on shares of SLR Investment and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Compass Point raised shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research note on Tuesday, March 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of SLR Investment from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, SLR Investment has an average rating of “Hold” and a consensus price target of $15.29.

Insider Activity at SLR Investment

In other news, insider Michael S. Gross acquired 10,452 shares of SLR Investment stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $13.90 per share, with a total value of $145,282.80. Following the completion of the transaction, the insider directly owned 4,025,153 shares of the company’s stock, valued at approximately $55,949,626.70. This represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLR Investment

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in SLR Investment by 1,389.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,758 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,640 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of SLR Investment during the 3rd quarter worth about $48,000. Kestra Advisory Services LLC bought a new position in shares of SLR Investment in the 4th quarter valued at about $110,000. Advisory Services Network LLC acquired a new stake in shares of SLR Investment in the third quarter valued at about $143,000. Finally, Mariner LLC acquired a new stake in shares of SLR Investment in the fourth quarter valued at about $179,000. 35.32% of the stock is owned by 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.