1,607,550 SLR Investment Corp. $SLRC Shares Bought by Sound Income Strategies LLC
by Mitch Edgeman · The Markets DailySound Income Strategies LLC raised its position in shares of SLR Investment Corp. (NASDAQ:SLRC – Free Report) by 7,441.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629,154 shares of the financial services provider’s stock after buying an additional 1,607,550 shares during the quarter. Sound Income Strategies LLC owned about 2.99% of SLR Investment worth $18,735,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in SLRC. N.E.W. Advisory Services LLC purchased a new stake in shares of SLR Investment during the 2nd quarter worth approximately $28,000. Ascentis Independent Advisors purchased a new position in shares of SLR Investment in the first quarter valued at $69,000. Rockefeller Capital Management L.P. grew its holdings in shares of SLR Investment by 211.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 4,292 shares in the last quarter. Allworth Financial LP bought a new stake in SLR Investment in the second quarter worth $93,000. Finally, Abel Hall LLC purchased a new stake in SLR Investment during the first quarter valued at $143,000. Institutional investors own 35.32% of the company’s stock.
Insider Transactions at SLR Investment
In other news, insider Michael Gross acquired 20,000 shares of SLR Investment stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $12.35 per share, for a total transaction of $247,000.00. Following the acquisition, the insider directly owned 4,065,153 shares of the company’s stock, valued at $50,204,639.55. This trade represents a 0.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.80% of the stock is currently owned by company insiders.
SLR Investment Trading Down 1.1%
Shares of NASDAQ SLRC traded down $0.13 during mid-day trading on Friday, reaching $11.37. The company had a trading volume of 374,377 shares, compared to its average volume of 379,801. The stock has a market cap of $620.35 million, a price-to-earnings ratio of 8.42 and a beta of 0.69. SLR Investment Corp. has a 52 week low of $11.23 and a 52 week high of $16.36. The business’s 50-day moving average is $12.34 and its 200-day moving average is $13.16. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17.
SLR Investment (NASDAQ:SLRC – Get Free Report) 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. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $48.82 million. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. Equities analysts expect that SLR Investment Corp. will post 1.31 earnings per share for the current year.
SLR Investment Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 10.9%. SLR Investment’s dividend payout ratio is 91.85%.
Analyst Ratings Changes
SLRC has been the subject of several research reports. Wall Street Zen upgraded shares of SLR Investment from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. JPMorgan Chase & Co. reduced their target price on shares of SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings cut shares of SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of SLR Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, B. Riley Financial lowered SLR Investment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.10.
Get Our Latest Stock Analysis on SLRC
SLR Investment Company Profile
SLR Investment Corp. (NASDAQ: SLRC) is a closed-end business development company that provides financing to middle-market companies. The company primarily invests in privately held businesses through senior secured loans, including first-lien and unitranche loans, and may also make subordinated debt and equity investments.
SLR Investment focuses on companies with established operations across a range of industries. Its investment strategy is designed to provide businesses with capital for acquisitions, recapitalizations, growth initiatives, refinancings and other general corporate purposes.
Further Reading
- Five stocks we like better than SLR Investment
- Alphabet Introduces Gemini Agent—Can It Trigger a Breakout?
- Palantir’s Rally Puts Wall Street in Catch-Up Mode Ahead of November Earnings
- Tilray Finds a Path to Growth Without Waiting on U.S. Cannabis Reform
- Arista Networks Plugs Into All-Time Highs
Want to see what other hedge funds are holding SLRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLR Investment Corp. (NASDAQ:SLRC – Free Report).