SLR Investment Corp. (NASDAQ:SLRC) Sees Large Increase in Short Interest
SLR Investment Corp. (NASDAQ:SLRC – Get Rating) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 468,900 shares, a growth of 37.7% from the May 15th total of 340,600 shares. Based on an average daily trading volume, of 299,400 shares, the days-to-cover ratio is presently 1.6 days.
Shares of SLRC stock traded up $0.03 during trading hours on Wednesday, reaching $14.86. The company had a trading volume of 873 shares, compared to its average volume of 249,175. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.01 and a current ratio of 1.01. SLR Investment has a twelve month low of $14.46 and a twelve month high of $20.05. The company has a market capitalization of $813.93 million, a P/E ratio of 15.78 and a beta of 1.14. The stock’s fifty day simple moving average is $16.30 and its 200 day simple moving average is $17.64.
SLR Investment (NASDAQ:SLRC – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). SLR Investment had a net margin of 28.96% and a return on equity of 7.11%. The business had revenue of $33.01 million for the quarter, compared to analyst estimates of $36.95 million. As a group, equities analysts expect that SLR Investment will post 1.43 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Thursday, June 23rd will be paid a dividend of $0.137 per share. The ex-dividend date is Wednesday, June 22nd. This represents a $1.64 dividend on an annualized basis and a yield of 11.06%. SLR Investment’s dividend payout ratio (DPR) is presently 174.47%.
Several research firms recently weighed in on SLRC. Maxim Group began coverage on SLR Investment in a research report on Monday, April 25th. They set a “buy” rating and a $20.00 target price on the stock. StockNews.com upgraded SLR Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. TheStreet lowered SLR Investment from a “b-” rating to a “c” rating in a research note on Wednesday, March 9th. Wells Fargo & Company dropped their price target on SLR Investment from $17.25 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Finally, Hovde Group dropped their price target on SLR Investment to $16.00 in a research note on Friday, May 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.40.
Large investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its holdings in SLR Investment by 5.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 45,083 shares of the financial services provider’s stock worth $811,000 after buying an additional 2,226 shares during the last quarter. Royal Bank of Canada lifted its holdings in SLR Investment by 0.9% during the 3rd quarter. Royal Bank of Canada now owns 145,704 shares of the financial services provider’s stock worth $2,787,000 after buying an additional 1,286 shares during the last quarter. Homrich & Berg lifted its holdings in SLR Investment by 17.2% during the 3rd quarter. Homrich & Berg now owns 127,883 shares of the financial services provider’s stock worth $2,446,000 after buying an additional 18,806 shares during the last quarter. Coastal Bridge Advisors LLC bought a new position in SLR Investment during the 3rd quarter worth approximately $254,000. Finally, HighTower Advisors LLC bought a new position in SLR Investment during the 3rd quarter worth approximately $766,000.
SLR Investment Company Profile (Get Rating)
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.
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