SLR Investment (NASDAQ:SLRC) Reaches New 52-Week Low – Here’s Why

SLR Investment Corp. (NASDAQ:SLRC)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.97 and last traded at $12.03, with a volume of 431551 shares traded. The stock had previously closed at $12.07.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, July 2nd. B. Riley Financial downgraded shares of SLR Investment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Zacks Research upgraded SLR Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, SLR Investment has an average rating of “Hold” and a consensus price target of $14.10.

SLR Investment Stock Down 2.0%

The company’s fifty day simple moving average is $12.72 and its 200-day simple moving average is $13.44. The firm has a market capitalization of $654.66 million, a PE ratio of 8.89 and a beta of 0.64. 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 (NASDAQ:SLRC) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%.The firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $48.82 million. On average, analysts forecast that SLR Investment Corp. will post 1.31 EPS for the current year.

SLR Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Friday, September 11th. SLR Investment’s dividend payout ratio (DPR) is presently 91.85%.

Insider Activity at SLR Investment

In other SLR Investment news, insider Michael Gross bought 20,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $12.35 per share, for a total transaction of $247,000.00. Following the completion of the transaction, the insider owned 4,065,153 shares in the company, valued at approximately $50,204,639.55. The trade was a 0.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.80% of the stock is owned by company insiders.

Institutional Trading of SLR Investment

Several institutional investors and hedge funds have recently made changes to their positions in SLRC. Closed End Fund Advisors Inc. acquired a new stake in shares of SLR Investment during the fourth quarter worth $4,033,000. BlackRock Inc. acquired a new position in shares of SLR Investment in the 2nd quarter valued at $2,513,000. Clear Harbor Asset Management LLC purchased a new position in SLR Investment in the 2nd quarter worth about $4,205,000. NewEdge Wealth LLC acquired a new stake in SLR Investment during the 2nd quarter worth about $1,256,000. Finally, North Ground Capital purchased a new stake in SLR Investment during the second quarter valued at about $2,078,160. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company invests mainly in senior secured loans and other debt instruments, with a focus on businesses that may require flexible capital solutions to support acquisitions, growth, recapitalizations, refinancing, and other corporate initiatives.

SLR Investment may also make subordinated debt and equity investments, including investments alongside its lending activities.