Van ECK Associates Corp Buys 219,110 Shares of SLR Investment Corp. $SLRC

Key Points

• Van ECK Associates increased its SLR Investment stake by 24.8%, purchasing 219,110 additional shares to own 1.10 million shares, or 2.02% of the company. Institutional investors collectively hold 35.32% of SLRC.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with two Buy, four Hold, and two Sell ratings and an average price target of $14.10. Wells Fargo and JPMorgan recently lowered their price targets and maintained underweight ratings.
• SLRC reported quarterly EPS of $0.33, in line with estimates, while revenue of $20.50 million fell short of the $48.82 million analyst estimate. The company declared a quarterly dividend of $0.31, representing a 9.7% annualized yield.

Van ECK Associates Corp boosted its position in shares of SLR Investment Corp. (NASDAQ:SLRC - Free Report) by 24.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,104,114 shares of the financial services provider's stock after buying an additional 219,110 shares during the quarter. Van ECK Associates Corp owned 2.02% of SLR Investment worth $13,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of SLR Investment by 173.3% in the 1st quarter. Acadian Asset Management LLC now owns 16,702 shares of the financial services provider's stock worth $280,000 after acquiring an additional 10,591 shares during the last quarter. Cetera Investment Advisers grew its holdings in SLR Investment by 11.7% during the 2nd quarter. Cetera Investment Advisers now owns 40,901 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 4,295 shares during the last quarter. Quantbot Technologies LP purchased a new stake in SLR Investment in the 2nd quarter worth about $190,000. Invesco Ltd. lifted its stake in SLR Investment by 18.0% in the second quarter. Invesco Ltd. now owns 42,469 shares of the financial services provider's stock worth $685,000 after purchasing an additional 6,464 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of SLR Investment during the second quarter valued at approximately $782,000. Institutional investors own 35.32% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLRC. Zacks Research upgraded SLR Investment from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Wall Street Zen cut SLR Investment from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Wells Fargo & Company cut their price objective on SLR Investment from $12.00 to $11.00 and set an "underweight" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings lowered SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. decreased their target price on SLR Investment from $13.50 to $12.00 and set an "underweight" rating for the company in a research report on Thursday, July 2nd. 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.10.

SLR Investment Stock Performance

Shares of NASDAQ:SLRC opened at $12.74 on Tuesday. The firm has a market cap of $695.09 million, a PE ratio of 9.44 and a beta of 0.64. The firm's 50 day simple moving average is $12.77 and its 200-day simple moving average is $13.68. SLR Investment Corp. has a one year low of $12.13 and a one year high of $16.83. 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 announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%.The firm had revenue of $20.50 million during the quarter, compared to analyst estimates of $48.82 million. As a group, equities analysts predict that SLR Investment Corp. will post 1.31 EPS for the current year.

SLR Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Friday, September 11th. SLR Investment's dividend payout ratio is currently 91.85%.

About SLR Investment

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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