Clear Harbor Asset Management LLC Acquires New Stake in SLR Investment Corp. $SLRC

Key Points

• Clear Harbor Asset Management acquired 339,975 shares of SLR Investment, valued at approximately $4.2 million, representing about 0.62% of the company. Institutional investors and hedge funds collectively own 35.32% of SLRC.
• Analyst sentiment is mixed but leans neutral: SLRC has a consensus “Hold” rating and a $14.10 price target, with two Buy, four Hold, and two Sell ratings.
• SLRC reported quarterly EPS of $0.33, matching estimates, and announced a $0.31 quarterly dividend, equivalent to a 9.8% annualized yield. The stock recently traded at $12.63, near its 52-week low of $12.13.

Clear Harbor Asset Management LLC acquired a new stake in SLR Investment Corp. (NASDAQ:SLRC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 339,975 shares of the financial services provider's stock, valued at approximately $4,205,000. Clear Harbor Asset Management LLC owned approximately 0.62% of SLR Investment as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of SLR Investment by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,357,679 shares of the financial services provider's stock worth $20,990,000 after buying an additional 15,264 shares in the last quarter. UBS Group AG boosted its position in SLR Investment by 15.5% during the fourth quarter. UBS Group AG now owns 577,728 shares of the financial services provider's stock worth $8,932,000 after acquiring an additional 77,705 shares during the last quarter. Franklin Resources Inc. boosted its position in SLR Investment by 8.0% during the fourth quarter. Franklin Resources Inc. now owns 449,290 shares of the financial services provider's stock worth $6,946,000 after acquiring an additional 33,185 shares during the last quarter. Two Sigma Investments LP grew its stake in SLR Investment by 25.4% during the 3rd quarter. Two Sigma Investments LP now owns 380,119 shares of the financial services provider's stock valued at $5,812,000 after acquiring an additional 76,931 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in SLR Investment by 18.5% during the 4th quarter. Legal & General Group Plc now owns 379,906 shares of the financial services provider's stock valued at $5,873,000 after acquiring an additional 59,194 shares in the last quarter. Institutional investors and hedge funds own 35.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SLRC. Wall Street Zen downgraded shares of SLR Investment from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Zacks Research upgraded SLR Investment from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. B. Riley Financial cut SLR Investment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings downgraded SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company lowered their price objective on SLR Investment from $12.00 to $11.00 and set an "underweight" rating on the stock in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.10.

SLR Investment Price Performance

SLRC stock opened at $12.63 on Friday. The business has a fifty day moving average of $12.75 and a two-hundred day moving average of $13.80. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. The stock has a market cap of $689.09 million, a price-to-earnings ratio of 9.36 and a beta of 0.64. SLR Investment Corp. has a 52-week low of $12.13 and a 52-week high of $16.83.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $48.82 million. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. As a group, research analysts anticipate that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 9.8%. SLR Investment's dividend payout ratio is presently 91.85%.

SLR Investment Profile

SLR Investment Corp. NASDAQ: SLRC is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.

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