West Family Investments Inc. Has $9,975,000 Stake in Solar Capital Ltd. (SLRC)
West Family Investments Inc. held its position in Solar Capital Ltd. (NASDAQ:SLRC) during the second quarter, Holdings Channel reports. The institutional investor owned 479,013 shares of the financial services provider’s stock at the end of the second quarter. Solar Capital comprises about 2.2% of West Family Investments Inc.’s investment portfolio, making the stock its 11th largest position. West Family Investments Inc.’s holdings in Solar Capital were worth $9,975,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted its position in Solar Capital by 24.3% in the first quarter. Muzinich & Co. Inc. now owns 1,564,743 shares of the financial services provider’s stock worth $35,379,000 after buying an additional 306,142 shares during the last quarter. UBS Group AG boosted its position in Solar Capital by 13.5% in the first quarter. UBS Group AG now owns 1,594,885 shares of the financial services provider’s stock worth $36,060,000 after buying an additional 189,227 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Solar Capital by 79.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 421,081 shares of the financial services provider’s stock worth $9,520,000 after buying an additional 186,840 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Solar Capital during the second quarter worth approximately $2,389,000. Finally, Oxford Asset Management bought a new stake in Solar Capital during the first quarter worth approximately $2,016,000. 62.75% of the stock is owned by institutional investors.
Shares of Solar Capital Ltd. (SLRC) opened at 21.44 on Wednesday. Solar Capital Ltd. has a 1-year low of $19.26 and a 1-year high of $22.94. The stock’s 50 day moving average is $21.84 and its 200-day moving average is $21.99.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Solar Capital had a net margin of 54.87% and a return on equity of 7.30%. The company had revenue of $33.89 million during the quarter, compared to analyst estimates of $36.51 million. Equities analysts anticipate that Solar Capital Ltd. will post $1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Thursday, September 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Wednesday, September 20th. Solar Capital’s dividend payout ratio (DPR) is 85.11%.
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SLRC has been the subject of a number of research reports. National Securities reissued a “buy” rating and set a $24.00 target price on shares of Solar Capital in a research note on Monday, May 8th. Zacks Investment Research raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. J P Morgan Chase & Co cut shares of Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Monday, May 1st. Keefe, Bruyette & Woods set a $23.00 target price on shares of Solar Capital and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.40.
About Solar Capital
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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