Solar Senior Capital (SUNS) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a buy rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “
Separately, BidaskClub lowered shares of Solar Senior Capital from a buy rating to a hold rating in a report on Friday, March 1st.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, February 21st. The asset manager reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. Solar Senior Capital had a net margin of 34.70% and a return on equity of 8.45%. The business had revenue of $9.98 million for the quarter, compared to analyst estimates of $10.10 million. Equities analysts expect that Solar Senior Capital will post 1.4 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 21st will be issued a $0.1175 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 8.25%. Solar Senior Capital’s payout ratio is 100.00%.
Large investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in Solar Senior Capital by 276.7% during the 4th quarter. Advisor Group Inc. now owns 2,501 shares of the asset manager’s stock worth $37,000 after acquiring an additional 1,837 shares in the last quarter. IFP Advisors Inc acquired a new stake in Solar Senior Capital during the 4th quarter worth $76,000. Stratos Wealth Partners LTD. acquired a new stake in Solar Senior Capital during the 3rd quarter worth $105,000. Two Sigma Investments LP raised its stake in Solar Senior Capital by 18.5% during the 4th quarter. Two Sigma Investments LP now owns 42,294 shares of the asset manager’s stock worth $639,000 after acquiring an additional 6,610 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Solar Senior Capital by 11.4% during the 4th quarter. Two Sigma Advisers LP now owns 47,522 shares of the asset manager’s stock worth $719,000 after acquiring an additional 4,878 shares in the last quarter. Hedge funds and other institutional investors own 21.07% of the company’s stock.
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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