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Short Interest in Solar Senior Capital Ltd. (NASDAQ:SUNS) Drops By 18.5%

Saturday, November 21, 2020 | MarketBeat

Solar Senior Capital Ltd. (NASDAQ:SUNS) was the target of a large decrease in short interest during the month of October. As of October 30th, there was short interest totalling 22,100 shares, a decrease of 18.5% from the October 15th total of 27,100 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 53,800 shares, the short-interest ratio is currently 0.4 days.

NASDAQ:SUNS opened at $14.44 on Friday. Solar Senior Capital has a 12 month low of $6.30 and a 12 month high of $18.29. The stock has a 50 day moving average of $13.39 and a two-hundred day moving average of $13.04. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm has a market cap of $231.75 million, a P/E ratio of 24.47 and a beta of 1.33.

Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, November 5th. The asset manager reported $0.30 EPS for the quarter, hitting the Thomson Reuters' consensus estimate of $0.30. Solar Senior Capital had a return on equity of 8.76% and a net margin of 25.75%. On average, research analysts forecast that Solar Senior Capital will post 1.26 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.20 annualized dividend and a yield of 8.31%. Solar Senior Capital's dividend payout ratio (DPR) is currently 85.11%.

In other Solar Senior Capital news, insider Michael S. Gross acquired 10,769 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $13.13 per share, with a total value of $141,396.97. Following the acquisition, the insider now directly owns 231,608 shares of the company's stock, valued at $3,041,013.04. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael S. Gross purchased 3,844 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average cost of $13.20 per share, for a total transaction of $50,740.80. Following the completion of the acquisition, the insider now directly owns 236,608 shares of the company's stock, valued at approximately $3,123,225.60. The disclosure for this purchase can be found here. Insiders bought a total of 14,709 shares of company stock worth $193,396 over the last ninety days. Insiders own 5.70% of the company's stock.

A number of large investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. purchased a new stake in shares of Solar Senior Capital in the third quarter valued at approximately $133,000. Great West Life Assurance Co. Can grew its position in shares of Solar Senior Capital by 9,256.6% in the third quarter. Great West Life Assurance Co. Can now owns 526,965 shares of the asset manager's stock valued at $702,000 after purchasing an additional 521,333 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Solar Senior Capital by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 738,287 shares of the asset manager's stock valued at $9,354,000 after purchasing an additional 37,621 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Solar Senior Capital by 4.5% in the third quarter. California Public Employees Retirement System now owns 35,100 shares of the asset manager's stock valued at $442,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Solar Senior Capital in the third quarter valued at approximately $33,000. Institutional investors own 17.37% of the company's stock.

Several equities analysts recently weighed in on SUNS shares. Oppenheimer restated a "buy" rating and issued a $15.00 price target on shares of Solar Senior Capital in a research note on Wednesday, August 5th. TheStreet upgraded Solar Senior Capital from a "c+" rating to a "b-" rating in a research note on Tuesday, October 20th. Finally, LADENBURG THALM/SH SH upgraded Solar Senior Capital from a "neutral" rating to a "buy" rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus target price of $15.67.

About Solar Senior Capital

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

Further Reading: Insider Trading

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