Corient Private Wealth LP Takes Position in Stellus Capital Investment Corporation $SCM

Key Points

• Corient Private Wealth LP acquired 284,746 shares of Stellus Capital Investment in the second quarter, worth approximately $2.4 million and representing about 1% of the company. Institutional investors collectively own 13.22% of SCM.
• Stellus reported quarterly EPS of $0.26, in line with expectations, while revenue of $30.98 million exceeded analyst estimates of $24.38 million. The stock opened at $8.73, near the midpoint of its 52-week range.
• The company declared a monthly dividend of $0.0833 per share, implying an annualized yield of approximately 11.4%. Analysts maintain a consensus “Hold” rating with an average price target of $9.25.

Corient Private Wealth LP purchased a new stake in shares of Stellus Capital Investment Corporation (NYSE:SCM - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 284,746 shares of the investment management company's stock, valued at approximately $2,398,000. Corient Private Wealth LP owned approximately 1.00% of Stellus Capital Investment at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCM. Royal Bank of Canada grew its stake in shares of Stellus Capital Investment by 15.8% during the first quarter. Royal Bank of Canada now owns 27,882 shares of the investment management company's stock valued at $390,000 after acquiring an additional 3,808 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Stellus Capital Investment in the first quarter worth about $157,000. Brevan Howard Capital Management LP purchased a new position in Stellus Capital Investment in the second quarter valued at about $154,000. BNP Paribas Financial Markets purchased a new position in Stellus Capital Investment in the second quarter valued at about $60,000. Finally, Group One Trading LLC grew its stake in Stellus Capital Investment by 112.3% during the 2nd quarter. Group One Trading LLC now owns 11,401 shares of the investment management company's stock valued at $159,000 after purchasing an additional 6,030 shares in the last quarter. Hedge funds and other institutional investors own 13.22% of the company's stock.

Stellus Capital Investment Stock Up 0.2%

Shares of Stellus Capital Investment stock opened at $8.73 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $8.21 and its 200-day simple moving average is $9.00. The stock has a market capitalization of $248.74 million, a price-to-earnings ratio of 8.56 and a beta of 0.67. Stellus Capital Investment Corporation has a twelve month low of $6.83 and a twelve month high of $15.04.

Stellus Capital Investment (NYSE:SCM - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Stellus Capital Investment had a return on equity of 9.09% and a net margin of 30.66%.The business had revenue of $30.98 million during the quarter, compared to analyst estimates of $24.38 million. Equities research analysts forecast that Stellus Capital Investment Corporation will post 1.05 earnings per share for the current year.

Stellus Capital Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.0833 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 11.4%. Stellus Capital Investment's payout ratio is 98.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research upgraded Stellus Capital Investment from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Keefe, Bruyette & Woods reduced their target price on Stellus Capital Investment from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Monday, July 20th. Weiss Ratings raised shares of Stellus Capital Investment from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Stellus Capital Investment from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, LADENBURG THALM/SH SH cut their price target on shares of Stellus Capital Investment from $11.00 to $10.50 and set a "buy" rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $9.25.

Stellus Capital Investment Profile

Stellus Capital Investment Corporation NYSE: SCM is a closed-end, externally managed business development company that provides debt and equity financing to middle market companies in the United States. As an investment vehicle specializing in private credit, Stellus focuses on originating and structuring senior secured loans, unitranche facilities, mezzanine debt, and equity co-investments tailored to the unique needs of growing businesses. Its flexible capital solutions are designed to support acquisitions, recapitalizations, growth initiatives, and balance sheet refinancings.

Operating under an evergreen structure, Stellus Capital Investment partners with a diverse group of portfolio companies across industries such as manufacturing, healthcare, business services, and specialty finance.

Want to see what other hedge funds are holding SCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stellus Capital Investment Corporation (NYSE:SCM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source