Van ECK Associates Corp Acquires 63,321 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Van ECK Associates Corp lifted its holdings in shares of SLR Investment Corp. (NASDAQ:SLRC) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 999,291 shares of the financial services provider’s stock after acquiring an additional 63,321 shares during the quarter. Van ECK Associates Corp’s holdings in SLR Investment were worth $15,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Condor Capital Management bought a new position in SLR Investment in the 2nd quarter worth $4,118,000. Hennion & Walsh Asset Management Inc. raised its stake in SLR Investment by 182.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,401 shares of the financial services provider’s stock worth $875,000 after buying an additional 35,128 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in SLR Investment in the second quarter worth about $1,639,000. Dimensional Fund Advisors LP bought a new stake in SLR Investment during the 2nd quarter valued at approximately $786,000. Finally, SG Americas Securities LLC purchased a new position in shares of SLR Investment during the 1st quarter worth approximately $342,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Stock Up 0.3 %

Shares of NASDAQ:SLRC opened at $15.12 on Wednesday. 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 $15.31 and a two-hundred day simple moving average of $15.66. SLR Investment Corp. has a 12-month low of $14.41 and a 12-month high of $16.77. The stock has a market capitalization of $824.95 million, a price-to-earnings ratio of 8.13 and a beta of 1.12.

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

Wall Street Analyst Weigh In

SLRC has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on SLR Investment from $13.00 to $12.50 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $15.50 to $15.00 in a report on Monday, July 29th. Finally, StockNews.com started coverage on shares of SLR Investment in a research report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average target price of $15.13.

SLR Investment Company Profile

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.