Sunbelt Securities Inc. Raises Position in SLR Investment Corp. (NASDAQ:SLRC)

Sunbelt Securities Inc. grew its stake in shares of SLR Investment Corp. (NASDAQ:SLRC) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,066 shares of the financial services provider’s stock after buying an additional 1,683 shares during the quarter. Sunbelt Securities Inc.’s holdings in SLR Investment were worth $1,433,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in SLR Investment during the 2nd quarter valued at $35,000. EverSource Wealth Advisors LLC purchased a new stake in shares of SLR Investment during the second quarter worth about $47,000. Westend Capital Management LLC bought a new stake in shares of SLR Investment in the first quarter worth about $74,000. Virtu Financial LLC purchased a new position in SLR Investment during the 4th quarter valued at about $195,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in SLR Investment during the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Trading Up 1.0 %

Shares of NASDAQ SLRC opened at $15.05 on Tuesday. SLR Investment Corp. has a 1 year low of $13.93 and a 1 year high of $16.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day moving average of $15.40 and a 200 day moving average of $15.64. The stock has a market cap of $821.05 million, a P/E ratio of 8.46 and a beta of 1.13.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $58.98 million during the quarter, compared to analyst estimates of $58.23 million. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. During the same period last year, the business earned $0.42 earnings per share. As a group, sell-side analysts expect that SLR Investment Corp. will post 1.74 EPS for the current fiscal year.

SLR Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.90%. SLR Investment’s dividend payout ratio is currently 92.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut SLR Investment from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Finally, StockNews.com initiated coverage on SLR Investment in a research report on Tuesday, July 23rd. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.25.

Insider Activity

In other news, Chairman Leonard M. Tannenbaum acquired 10,000 shares of SLR Investment stock in a transaction on Wednesday, July 10th. The stock was acquired at an average cost of $8.73 per share, for a total transaction of $87,300.00. Following the purchase, the chairman now owns 1,270,763 shares in the company, valued at $11,093,760.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SLR Investment news, Chairman Leonard M. Tannenbaum bought 10,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $87,300.00. Following the purchase, the chairman now owns 1,270,763 shares in the company, valued at approximately $11,093,760.99. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Robyn Tannenbaum bought 3,000 shares of SLR Investment 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 in the company, valued at approximately $275,796.95. The disclosure for this purchase can be found here. Insiders purchased 70,584 shares of company stock worth $855,625 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

SLR Investment 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.