Wedbush Securities Inc. Purchases 1,616 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Wedbush Securities Inc. grew its position in SLR Investment Corp. (NASDAQ:SLRC) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,900 shares of the financial services provider’s stock after acquiring an additional 1,616 shares during the quarter. Wedbush Securities Inc.’s holdings in SLR Investment were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of SLR Investment in the 2nd quarter worth about $1,639,000. GraniteShares Advisors LLC grew its position in SLR Investment by 14.2% in the second quarter. GraniteShares Advisors LLC now owns 128,096 shares of the financial services provider’s stock worth $2,061,000 after acquiring an additional 15,976 shares in the last quarter. Van ECK Associates Corp increased its stake in SLR Investment by 1.9% during the second quarter. Van ECK Associates Corp now owns 935,970 shares of the financial services provider’s stock worth $15,060,000 after acquiring an additional 17,774 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in SLR Investment during the second quarter valued at approximately $35,000. Finally, Pullen Investment Management LLC lifted its stake in shares of SLR Investment by 5.1% in the 2nd quarter. Pullen Investment Management LLC now owns 55,371 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 2,693 shares during the last quarter. 35.32% of the stock is owned by hedge funds and other institutional investors.

SLR Investment Stock Down 0.3 %

NASDAQ:SLRC opened at $15.60 on Friday. The company has a market cap of $851.06 million, a price-to-earnings ratio of 8.76 and a beta of 1.13. SLR Investment Corp. has a twelve month low of $13.93 and a twelve month high of $16.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $15.65 and a 200-day simple moving average of $15.65.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. The firm had revenue of $58.98 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter in the prior year, the company earned $0.42 EPS. Analysts anticipate that SLR Investment Corp. will post 1.75 EPS for the current year.

SLR Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date of this dividend is Friday, September 13th. SLR Investment’s dividend payout ratio is currently 92.13%.

Insider Transactions at SLR Investment

In other news, Chairman Leonard M. Tannenbaum bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was bought at an average price of $8.73 per share, with a total value of $87,300.00. Following the completion of the transaction, the chairman now directly owns 1,270,763 shares of the company’s stock, valued at approximately $11,093,760.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SLR Investment news, Chairman Leonard M. Tannenbaum bought 10,000 shares of SLR Investment stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average cost of $8.73 per share, with a total value of $87,300.00. Following the transaction, the chairman now directly owns 1,270,763 shares of the company’s stock, valued at approximately $11,093,760.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robyn Tannenbaum purchased 3,000 shares of the stock in a transaction on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, with a total value of $33,150.00. Following the acquisition, the president now owns 24,959 shares of the company’s stock, valued at approximately $275,796.95. The disclosure for this purchase can be found here. Insiders have bought a total of 70,584 shares of company stock valued at $855,625 in the last 90 days. Insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SLRC. Wells Fargo & Company increased their price target on SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a report on Friday, July 26th. StockNews.com assumed coverage on shares of SLR Investment in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of SLR Investment from $15.50 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.25.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.