SLR Investment (NASDAQ:SLRC) Stock Gets Price Target Cut from B. Riley Financial

Key Points

• B. Riley Financial cut its price target on SLR Investment from $14 to $13 but maintained a Buy rating; the new target implies 9.11% upside from the prior close.
• Analyst views are mixed: three rate the stock Buy, three Hold, and two Sell, with an average rating of Hold and an average price target of $13.92.
• Shares fell 0.5% to $11.91 on Friday. The company’s latest quarterly EPS of $0.33 matched estimates, while revenue of $49.34 million topped forecasts.

SLR Investment (NASDAQ:SLRC - Get Free Report) had its target price dropped by stock analysts at B. Riley Financial from $14.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. B. Riley Financial's target price indicates a potential upside of 9.11% from the stock's previous close.

Several other research analysts have also weighed in on SLRC. Weiss Ratings reiterated a "hold (c-)" rating on shares of SLR Investment in a report on Monday, October 26th. Zacks Research upgraded shares of SLR Investment from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of SLR Investment from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, SLR Investment currently has an average rating of "Hold" and an average target price of $13.92.

SLR Investment Trading Down 0.5%

SLR Investment stock traded down $0.07 during trading on Friday, hitting $11.91. The company's stock had a trading volume of 73,567 shares, compared to its average volume of 382,748. The stock's fifty day moving average is $11.82 and its 200 day moving average is $13.35. SLR Investment has a 1-year low of $10.96 and a 1-year high of $16.36. The stock has a market capitalization of $639.48 million, a price-to-earnings ratio of 11.27 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.09.

SLR Investment (NASDAQ:SLRC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.33. The firm had revenue of $49.34 million for the quarter, compared to analyst estimates of $48.93 million. SLR Investment had a return on equity of 7.61% and a net margin of 28.75%. As a group, equities research analysts predict that SLR Investment will post 1.31 EPS for the current year.

Insider Buying and Selling at SLR Investment

In other news, insider Michael Gross bought 20,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was acquired at an average price of $12.35 per share, for a total transaction of $247,000.00. Following the acquisition, the insider owned 4,065,153 shares of the company's stock, valued at $50,204,639.55. This trade represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SLRC. Thornburg Investment Management Inc. lifted its stake in shares of SLR Investment by 1.6% during the second quarter. Thornburg Investment Management Inc. now owns 4,708,772 shares of the financial services provider's stock worth $58,248,000 after purchasing an additional 75,341 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of SLR Investment by 7,441.0% in the third quarter. Sound Income Strategies LLC now owns 1,629,154 shares of the financial services provider's stock worth $18,735,000 after buying an additional 1,607,550 shares during the period. Van ECK Associates Corp boosted its position in shares of SLR Investment by 24.8% in the second quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider's stock worth $13,658,000 after buying an additional 219,110 shares during the period. Legal & General Group Plc acquired a new stake in shares of SLR Investment in the second quarter valued at about $5,516,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of SLR Investment by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 378,888 shares of the financial services provider's stock valued at $5,422,000 after buying an additional 1,619 shares in the last quarter. Hedge funds and other institutional investors own 35.32% of the company's stock.

SLR Investment Company Profile

SLR Investment Corp. NASDAQ: SLRC is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to support businesses that may have limited access to traditional bank financing by investing in a range of debt and equity securities.

Its investment activities generally focus on senior secured loans, subordinated debt, mezzanine investments and equity interests. SLR Investment typically partners with private equity sponsors and company management teams, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

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