Michael Gross Buys 20,000 Shares of SLR Investment (NASDAQ:SLRC) Stock

Key Points

• Insider purchase: Michael Gross bought 20,000 SLR Investment shares at an average price of $12.35, investing $247,000 and increasing his stake to 4.07 million shares.
• Stock and dividend: SLRC fell 1.9% to $12.09, near its 52-week low. The company declared a quarterly dividend of $0.31 per share, representing a 10.3% annualized yield.
• Analyst outlook: Analysts maintain a consensus “Hold” rating with an average price target of $14.10, while recent coverage included downgrades and reduced price targets. The company’s latest quarterly EPS of $0.33 matched estimates, though revenue substantially missed expectations.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) insider Michael Gross acquired 20,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $12.35 per share, for a total transaction of $247,000.00. Following the completion of the purchase, the insider owned 4,065,153 shares of the company's stock, valued at approximately $50,204,639.55. This represents a 0.49% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SLR Investment Stock Down 1.9%

SLRC stock traded down $0.23 during trading on Friday, hitting $12.09. 435,562 shares of the company's stock traded hands, compared to its average volume of 379,321. The firm has a market capitalization of $659.63 million, a P/E ratio of 8.96 and a beta of 0.64. SLR Investment Corp. has a 1 year low of $11.98 and a 1 year high of $16.48. 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 business has a fifty day simple moving average of $12.80 and a two-hundred day simple moving average of $13.55.

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

SLR Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.3%. SLR Investment's dividend payout ratio is presently 91.85%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Closed End Fund Advisors Inc. acquired a new position in shares of SLR Investment in the 4th quarter valued at about $4,033,000. UBS Group AG grew its holdings 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 period. BlackRock Inc. purchased a new position in SLR Investment during the second quarter valued at approximately $2,513,000. Clear Harbor Asset Management LLC purchased a new position in SLR Investment during the second quarter valued at approximately $4,205,000. Finally, NewEdge Wealth LLC acquired a new position in SLR Investment in the second quarter valued at approximately $1,256,000. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. B. Riley Financial downgraded SLR Investment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price target on SLR Investment from $13.50 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, July 2nd. Zacks Research upgraded shares of SLR Investment from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings cut shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $14.10.

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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