Truist Financial Corp Sells 36,090 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Truist Financial Corp trimmed its holdings in shares of SLR Investment Corp. (NASDAQ:SLRC - Free Report) by 67.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,787 shares of the financial services provider's stock after selling 36,090 shares during the quarter. Truist Financial Corp's holdings in SLR Investment were worth $286,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Confluence Investment Management LLC increased its holdings in shares of SLR Investment by 0.9% during the second quarter. Confluence Investment Management LLC now owns 185,372 shares of the financial services provider's stock worth $2,983,000 after purchasing an additional 1,570 shares during the period. Wedbush Securities Inc. grew its position in SLR Investment by 4.1% during the second quarter. Wedbush Securities Inc. now owns 40,900 shares of the financial services provider's stock worth $658,000 after buying an additional 1,616 shares in the last quarter. Sunbelt Securities Inc. increased its stake in SLR Investment by 1.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 89,066 shares of the financial services provider's stock worth $1,433,000 after acquiring an additional 1,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SLR Investment by 1.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,962 shares of the financial services provider's stock valued at $2,220,000 after acquiring an additional 1,897 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of SLR Investment during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 35.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLRC. Wells Fargo & Company boosted their price target on SLR Investment from $12.50 to $13.00 and gave the company an "underweight" rating in a research note on Friday, July 26th. StockNews.com started coverage on shares of SLR Investment in a research report on Tuesday, July 23rd. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. lowered shares of SLR Investment from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $15.50 to $15.00 in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.25.

SLR Investment Stock Performance

SLR Investment stock opened at $15.24 on Friday. The stock has a market cap of $831.49 million, a PE ratio of 8.19 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.16. SLR Investment Corp. has a 12-month low of $13.93 and a 12-month high of $16.77. The business's 50-day moving average price is $15.30 and its two-hundred day moving average price is $15.62.

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

SLR Investment Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 10.76%. The ex-dividend date was Friday, September 13th. SLR Investment's payout ratio is 88.17%.

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.