NewEdge Wealth LLC Invests $1.26 Million in SLR Investment Corp. $SLRC

Key Points

• NewEdge Wealth acquired 101,573 shares of SLR Investment Corp. worth approximately $1.26 million, representing about 0.19% of the company. Institutional investors collectively own 35.32% of SLRC.
• SLR Investment reported quarterly earnings of $0.33 per share, in line with estimates, though revenue of $20.5 million fell well below the $48.82 million analyst consensus.
• The company declared a quarterly dividend of $0.31 per share, or $1.24 annually, equating to a 9.8% yield. Analyst sentiment remains “Hold,” with an average price target of $14.10 versus a recent share price of $12.63.

NewEdge Wealth LLC purchased a new stake in SLR Investment Corp. (NASDAQ:SLRC - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 101,573 shares of the financial services provider's stock, valued at approximately $1,256,000. NewEdge Wealth LLC owned about 0.19% of SLR Investment as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Closed End Fund Advisors Inc. purchased a new position in shares of SLR Investment in the 4th quarter worth $4,033,000. UBS Group AG lifted its position in SLR Investment by 15.5% during the 4th 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 in the last quarter. Altrafin AG acquired a new position in shares of SLR Investment during the fourth quarter worth $786,000. Legal & General Group Plc boosted its position in SLR Investment by 18.5% in 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 buying an additional 59,194 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in SLR Investment in the fourth quarter valued at about $59,000. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

SLR Investment Stock Up 0.4%

Shares of NASDAQ:SLRC opened at $12.63 on Friday. The company has a market cap of $689.03 million, a PE ratio of 9.36 and a beta of 0.64. The firm has a 50 day simple moving average of $12.75 and a 200 day simple moving average of $13.80. 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 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 posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The firm 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 expect that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of SLR Investment from $12.00 to $11.00 and set an "underweight" rating on the stock in a research note on Thursday, May 7th. B. Riley Financial downgraded SLR Investment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price target on SLR Investment from $13.50 to $12.00 and set an "underweight" rating on the stock in a report on Thursday, July 2nd. Finally, Wall Street Zen lowered shares of SLR Investment from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.10.

SLR Investment Company 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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