Legal & General Group Plc Takes $5.52 Million Position in SLR Investment Corp. $SLRC

Key Points

• Legal & General Group Plc acquired 446,125 shares of SLR Investment during the second quarter, worth approximately $5.52 million and representing 0.82% of the company. Institutional investors collectively own 35.32% of SLRC.
• SLR Investment reported quarterly EPS of $0.33, matching estimates, while revenue of $20.5 million fell well short of the $48.82 million analyst consensus. Shares recently traded at $12.63, near their 52-week low.
• The company declared a quarterly dividend of $0.31 per share, equivalent to an annualized yield of approximately 9.8%. Analysts maintain a consensus “Hold” rating with a $14.10 price target.

Legal & General Group Plc bought a new stake in SLR Investment Corp. (NASDAQ:SLRC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 446,125 shares of the financial services provider's stock, valued at approximately $5,516,000. Legal & General Group Plc owned 0.82% of SLR Investment as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in SLR Investment by 173.3% in the first quarter. Acadian Asset Management LLC now owns 16,702 shares of the financial services provider's stock valued at $280,000 after buying an additional 10,591 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of SLR Investment by 11.7% in the second quarter. Cetera Investment Advisers now owns 40,901 shares of the financial services provider's stock worth $660,000 after acquiring an additional 4,295 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of SLR Investment in the 2nd quarter valued at approximately $190,000. Invesco Ltd. grew its holdings in shares of SLR Investment by 18.0% during the 2nd quarter. Invesco Ltd. now owns 42,469 shares of the financial services provider's stock valued at $685,000 after purchasing an additional 6,464 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of SLR Investment during the 2nd quarter valued at approximately $782,000. Institutional investors own 35.32% of the company's stock.

SLR Investment Price Performance

Shares of SLRC opened at $12.63 on Friday. The firm has a market cap of $689.09 million, a PE 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. The business's 50 day moving average price is $12.79 and its two-hundred day moving average price is $13.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.09.

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

SLR Investment Announces Dividend

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

Analysts Set New Price Targets

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

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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