SLR Investment (NASDAQ:SLRC) Hits New 52-Week Low - Here's What Happened

Key Points

• SLR Investment shares fell to a new 52-week low of $12.00, closing around $12.17 and remaining below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans toward Hold: the average price target is $14.10, while recent actions included a downgrade from B. Riley and a target cut and underweight rating from JPMorgan.
• The company reported quarterly EPS of $0.33, in line with estimates, and declared a $0.31 quarterly dividend. The annualized dividend yield is approximately 10.3%, though its payout ratio is high at 91.85%.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The company traded as low as $12.00 and last traded at $12.1670, with a volume of 4508 shares. The stock had previously closed at $12.32.

Analysts Set New Price Targets

SLRC has been the topic of a number of recent analyst reports. B. Riley Financial cut shares of SLR Investment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of SLR Investment from $13.50 to $12.00 and set an "underweight" rating for the company in a research report on Thursday, July 2nd. Weiss Ratings lowered shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. Finally, Zacks Research raised SLR Investment from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.10.

SLR Investment Price Performance

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 firm has a market cap of $655.81 million, a PE ratio of 8.90 and a beta of 0.64. The stock has a 50 day moving average price of $12.80 and a two-hundred day moving average price of $13.55.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $20.50 million during the quarter, compared to analyst estimates of $48.82 million. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. As a group, equities analysts expect that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Announces Dividend

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

Hedge Funds Weigh In On SLR Investment

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in SLR Investment by 1,389.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,758 shares of the financial services provider's stock worth $27,000 after acquiring an additional 1,640 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of SLR Investment during the second quarter worth about $28,000. International Assets Investment Management LLC acquired a new stake in shares of SLR Investment during the fourth quarter worth about $42,000. Russell Investments Group Ltd. purchased a new stake in SLR Investment in the third quarter valued at approximately $48,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in SLR Investment in the 4th quarter worth approximately $59,000. 35.32% of the stock is owned by institutional investors and hedge funds.

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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