NewEdge Wealth LLC Invests $1.78 Million in SLR Investment Corp. (NASDAQ:SLRC)

NewEdge Wealth LLC acquired a new stake in SLR Investment Corp. (NASDAQ:SLRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 118,427 shares of the financial services provider's stock, valued at approximately $1,780,000. NewEdge Wealth LLC owned about 0.22% of SLR Investment at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ares Management LLC lifted its stake in SLR Investment by 19.3% in the first quarter. Ares Management LLC now owns 1,895,303 shares of the financial services provider's stock valued at $34,362,000 after buying an additional 306,084 shares in the last quarter. BlackRock Inc. boosted its position in shares of SLR Investment by 70.8% during the third quarter. BlackRock Inc. now owns 471,061 shares of the financial services provider's stock worth $5,803,000 after buying an additional 195,228 shares during the period. Legal & General Group Plc grew its holdings in shares of SLR Investment by 42.1% during the second quarter. Legal & General Group Plc now owns 326,348 shares of the financial services provider's stock worth $4,781,000 after buying an additional 96,666 shares in the last quarter. Citadel Advisors LLC raised its position in SLR Investment by 133.8% in the 3rd quarter. Citadel Advisors LLC now owns 84,320 shares of the financial services provider's stock valued at $1,039,000 after buying an additional 48,259 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in SLR Investment by 6.5% in the 3rd quarter. Van ECK Associates Corp now owns 768,482 shares of the financial services provider's stock valued at $11,827,000 after acquiring an additional 46,760 shares in the last quarter. Institutional investors and hedge funds own 35.32% of the company's stock.

Insider Activity at SLR Investment

In other news, insider Michael S. Gross bought 40,000 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $15.08 per share, with a total value of $603,200.00. Following the completion of the transaction, the insider now owns 3,642,124 shares of the company's stock, valued at $54,923,229.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael S. Gross bought 40,000 shares of the company's stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $15.08 per share, with a total value of $603,200.00. Following the completion of the acquisition, the insider now owns 3,642,124 shares of the company's stock, valued at $54,923,229.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael S. Gross bought 22,636 shares of SLR Investment stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $15.74 per share, with a total value of $356,290.64. Following the transaction, the insider now owns 3,804,860 shares of the company's stock, valued at approximately $59,888,496.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 109,336 shares of company stock worth $1,680,539. Insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. B. Riley raised their price target on shares of SLR Investment from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on shares of SLR Investment from $15.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.25.

SLR Investment Stock Up 0.3 %

Shares of NASDAQ:SLRC traded up $0.04 during midday trading on Monday, hitting $14.87. The stock had a trading volume of 232,610 shares, compared to its average volume of 191,842. The company has a market cap of $811.31 million, a P/E ratio of 10.62 and a beta of 1.11. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The business's 50-day simple moving average is $15.10 and its 200-day simple moving average is $15.04. SLR Investment Corp. has a 12 month low of $13.48 and a 12 month high of $15.86.

SLR Investment (NASDAQ:SLRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. SLR Investment had a return on equity of 9.36% and a net margin of 33.31%. The company had revenue of $59.79 million during the quarter, compared to analysts' expectations of $59.00 million. On average, sell-side analysts forecast that SLR Investment Corp. will post 1.73 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 11.03%. The ex-dividend date of this dividend was Wednesday, March 13th. SLR Investment's payout ratio is 117.14%.

SLR Investment Company Profile

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.