Solar Senior Capital (NASDAQ:SUNS) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a hold rating to a buy rating in a report published on Wednesday, BidAskClub reports.

SUNS has been the subject of several other research reports. Zacks Investment Research downgraded shares of Solar Senior Capital from a hold rating to a sell rating in a research note on Saturday, August 10th. Maxim Group reissued a buy rating and issued a $18.50 price objective on shares of Solar Senior Capital in a research note on Thursday, August 8th.

Shares of NASDAQ SUNS opened at $17.45 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $280.13 million, a P/E ratio of 12.30 and a beta of 0.59. Solar Senior Capital has a 1 year low of $14.50 and a 1 year high of $17.58. The firm has a 50-day simple moving average of $17.04 and a two-hundred day simple moving average of $16.82.

Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings data on Monday, August 5th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $10.01 million during the quarter, compared to the consensus estimate of $10.76 million. Solar Senior Capital had a net margin of 35.76% and a return on equity of 8.57%. As a group, equities research analysts expect that Solar Senior Capital will post 1.38 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Friday, September 20th will be paid a dividend of $0.117 per share. This represents a $1.40 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Thursday, September 19th. Solar Senior Capital’s dividend payout ratio is presently 100.00%.

Institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in shares of Solar Senior Capital during the second quarter valued at approximately $32,000. Marshall Wace LLP bought a new stake in shares of Solar Senior Capital during the first quarter valued at approximately $42,000. Advisor Group Inc. raised its stake in shares of Solar Senior Capital by 48.4% during the second quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 3,006 shares in the last quarter. Glassman Wealth Services bought a new stake in shares of Solar Senior Capital during the first quarter valued at approximately $167,000. Finally, Peapack Gladstone Financial Corp bought a new stake in shares of Solar Senior Capital during the second quarter valued at approximately $318,000. 20.04% of the stock is owned by hedge funds and other institutional investors.

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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