Solar Capital Ltd. (NASDAQ:SLRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
Several other analysts have also issued reports on SLRC. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 price target on shares of Solar Capital and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, National Securities restated a “buy” rating and set a $24.00 price target on shares of Solar Capital in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.10.
Shares of Solar Capital (NASDAQ:SLRC) traded up 0.218% on Wednesday, reaching $21.607. The company’s stock had a trading volume of 18,371 shares. The stock has a 50 day moving average of $21.29 and a 200-day moving average of $21.80. Solar Capital has a 12 month low of $19.26 and a 12 month high of $22.94. The firm has a market cap of $913.13 million, a price-to-earnings ratio of 8.540 and a beta of 0.55.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $36.51 million. On average, analysts anticipate that Solar Capital will post $1.62 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Solar Capital by 0.3% during the second quarter. Royal Bank of Canada now owns 38,320 shares of the financial services provider’s stock valued at $838,000 after buying an additional 116 shares during the period. Green Square Capital LLC boosted its position in Solar Capital by 1.3% during the second quarter. Green Square Capital LLC now owns 16,796 shares of the financial services provider’s stock valued at $374,000 after buying an additional 212 shares during the period. Citadel Advisors LLC boosted its position in Solar Capital by 0.5% during the first quarter. Citadel Advisors LLC now owns 147,938 shares of the financial services provider’s stock valued at $3,345,000 after buying an additional 697 shares during the period. Sei Investments Co. boosted its holdings in shares of Solar Capital by 2.4% during the second quarter. Sei Investments Co. now owns 34,100 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 792 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 1,088 shares during the period. Institutional investors and hedge funds own 62.75% of the company’s stock.
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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