SLR Investment (NASDAQ:SLRC) Hits New 1-Year High Following Better-Than-Expected Earnings

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $17.90 and last traded at $17.57, with a volume of 937 shares. The stock had previously closed at $17.51.

The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. The business had revenue of $55.58 million during the quarter, compared to the consensus estimate of $57.08 million.

SLR Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.30%. SLR Investment's dividend payout ratio (DPR) is presently 93.71%.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their target price 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 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.25.

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Hedge Funds Weigh In On SLR Investment

A number of hedge funds have recently modified their holdings of SLRC. Creative Planning purchased a new position in shares of SLR Investment during the third quarter worth approximately $170,000. Raymond James & Associates grew its position in SLR Investment by 11.5% in the 3rd quarter. Raymond James & Associates now owns 251,495 shares of the financial services provider's stock valued at $3,785,000 after buying an additional 26,030 shares during the last quarter. International Assets Investment Management LLC grew its position in SLR Investment by 1,683.6% in the 3rd quarter. International Assets Investment Management LLC now owns 38,543 shares of the financial services provider's stock valued at $580,000 after buying an additional 36,382 shares during the last quarter. Van ECK Associates Corp grew its position in SLR Investment by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 999,291 shares of the financial services provider's stock valued at $15,369,000 after buying an additional 63,321 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in SLR Investment by 0.8% in the 3rd quarter. Confluence Investment Management LLC now owns 186,928 shares of the financial services provider's stock valued at $2,813,000 after buying an additional 1,556 shares during the last quarter. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

SLR Investment Trading Up 2.1 %

The business's 50-day moving average is $16.78 and its two-hundred day moving average is $16.06. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $961.89 million, a PE ratio of 9.96 and a beta of 1.14.

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.