SLR Investment (NASDAQ:SLRC) Hits New 52-Week High - Still a Buy?

Shares of SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $16.94 and last traded at $16.90, with a volume of 25617 shares trading hands. The stock had previously closed at $16.84.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on shares of SLR Investment from $12.50 to $13.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.25.

SLR Investment Price Performance

The company has a market cap of $917.15 million, a price-to-earnings ratio of 9.50 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $16.51 and a 200 day moving average price of $15.84.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. The company had revenue of $59.77 million during the quarter, compared to analysts' expectations of $58.48 million. During the same period last year, the company posted $0.42 earnings per share. As a group, research analysts expect that SLR Investment Corp. will post 1.76 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 9.76%. The ex-dividend date was Friday, December 13th. SLR Investment's dividend payout ratio is currently 92.66%.

Institutional Investors Weigh In On SLR Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Asset Management LLC acquired a new position in shares of SLR Investment during the 4th quarter worth $3,895,000. Strategic Financial Concepts LLC bought a new position in SLR Investment during the fourth quarter valued at about $1,902,000. Epiq Partners LLC acquired a new stake in shares of SLR Investment in the fourth quarter worth about $1,047,000. Van ECK Associates Corp boosted its stake in shares of SLR Investment by 6.8% during the 3rd quarter. Van ECK Associates Corp now owns 999,291 shares of the financial services provider's stock worth $15,369,000 after acquiring an additional 63,321 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of SLR Investment by 109.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 113,893 shares of the financial services provider's stock valued at $1,714,000 after acquiring an additional 59,492 shares during the last quarter. Hedge funds and other 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.