Wells Fargo & Company Trims SLR Investment (NASDAQ:SLRC) Target Price to $12.50

SLR Investment (NASDAQ:SLRC - Free Report) had its price target cut by Wells Fargo & Company from $13.00 to $12.50 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

A number of other equities analysts have also commented on SLRC. JPMorgan Chase & Co. lowered SLR Investment from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $15.50 to $15.00 in a research note on Monday, July 29th. StockNews.com started coverage on shares of SLR Investment in a report on Tuesday, July 23rd. They issued a "hold" rating for the company. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat, SLR Investment has an average rating of "Hold" and an average price target of $15.13.

SLR Investment Price Performance

Shares of SLR Investment stock traded down $0.15 on Tuesday, hitting $15.42. 132,152 shares of the company traded hands, compared to its average volume of 158,422. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50-day simple moving average of $15.33 and a 200 day simple moving average of $15.65. SLR Investment has a 52 week low of $13.93 and a 52 week high of $16.77. The stock has a market capitalization of $841.32 million, a P/E ratio of 8.29 and a beta of 1.13.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $58.98 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.42 EPS. Research analysts expect that SLR Investment will post 1.74 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.64%. The ex-dividend date was Friday, September 13th. SLR Investment's payout ratio is 88.17%.

Hedge Funds Weigh In On SLR Investment

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in SLR Investment by 8.0% during the first quarter. Van ECK Associates Corp now owns 918,196 shares of the financial services provider's stock worth $14,094,000 after buying an additional 68,320 shares during the period. Condor Capital Management purchased a new position in shares of SLR Investment during the 2nd quarter worth about $4,118,000. Hennion & Walsh Asset Management Inc. grew its holdings in SLR Investment by 182.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 54,401 shares of the financial services provider's stock valued at $875,000 after purchasing an additional 35,128 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in SLR Investment in the 2nd quarter worth about $1,639,000. Finally, Dimensional Fund Advisors LP bought a new stake in SLR Investment in the second quarter worth about $786,000. Institutional investors own 35.32% of the company's stock.

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.