Rivernorth Capital Management LLC Makes New Investment in SLR Investment Corp. $SLRC

Rivernorth Capital Management LLC purchased a new stake in shares of SLR Investment Corp. (NASDAQ:SLRC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 155,715 shares of the financial services provider’s stock, valued at approximately $1,926,000. Rivernorth Capital Management LLC owned about 0.29% of SLR Investment at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLRC. Wedbush Securities Inc. boosted its holdings in SLR Investment by 8.2% in the 2nd quarter. Wedbush Securities Inc. now owns 58,539 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 4,419 shares during the last quarter. Thornburg Investment Management Inc. grew its position in SLR Investment by 1.6% in the second quarter. Thornburg Investment Management Inc. now owns 4,708,772 shares of the financial services provider’s stock worth $58,248,000 after acquiring an additional 75,341 shares during the period. Van ECK Associates Corp increased its position in shares of SLR Investment by 24.8% during the 2nd quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider’s stock worth $13,658,000 after purchasing an additional 219,110 shares during the last quarter. Bank of America Corp DE acquired a new position in SLR Investment in the second quarter valued at about $2,070,000. Finally, Legal & General Group Plc purchased a new position in SLR Investment during the second quarter worth about $5,516,000. 35.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLRC shares. Weiss Ratings lowered shares of SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price target on SLR Investment from $13.50 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, July 2nd. Zacks Research raised SLR Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wells Fargo & Company cut their price objective on SLR Investment from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of SLR Investment from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.10.

SLR Investment Price Performance

SLRC opened at $12.52 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.09. SLR Investment Corp. has a 12 month low of $12.13 and a 12 month high of $16.83. The stock has a market capitalization of $683.03 million, a P/E ratio of 9.27 and a beta of 0.64. The business has a 50 day simple moving average of $12.76 and a 200-day simple moving average of $13.70.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $48.82 million. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. On average, equities analysts anticipate that SLR Investment Corp. will post 1.31 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Friday, September 11th. SLR Investment’s payout ratio is 91.85%.

SLR Investment 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.