SLR Investment (NASDAQ:SLRC) Reaches New 1-Year Low - Here's Why

Key Points

• SLR Investment shares fell to a new 52-week low of $11.91, with the stock last trading near $11.95. The decline follows mixed analyst actions, including downgrades from B. Riley and Weiss Ratings, while JPMorgan cut its price target to $12 and maintained an underweight rating.
• Analysts have a consensus “Hold” rating and a $14.10 price target. SLR Investment’s latest quarterly EPS of $0.33 met estimates, but revenue of $20.5 million was well below the $48.82 million analyst forecast.
• The company declared a quarterly dividend of $0.31 per share, equal to a 10.4% annualized yield, though its payout ratio is high at 91.85%. Insider Michael Gross also purchased 20,000 shares at an average price of $12.35.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $11.91 and last traded at $11.95, with a volume of 365040 shares trading hands. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

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

SLR Investment Price Performance

The company has a market cap of $651.99 million, a price-to-earnings ratio of 8.85 and a beta of 0.64. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average price of $12.68 and a two-hundred day moving average price of $13.39.

SLR Investment (NASDAQ:SLRC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.33 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 business had revenue of $20.50 million during the quarter, compared to analyst estimates of $48.82 million. As a group, equities research analysts anticipate that SLR Investment Corp. will post 1.31 EPS for the current fiscal year.

SLR Investment Announces Dividend

The firm also recently announced 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. This represents a $1.24 annualized dividend and a dividend yield of 10.4%. The ex-dividend date is Friday, September 11th. SLR Investment's payout ratio is 91.85%.

Insiders Place Their Bets

In other SLR Investment news, insider Michael Gross purchased 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $12.35 per share, with a total value of $247,000.00. Following the completion of the transaction, the insider directly owned 4,065,153 shares of the company's stock, valued at approximately $50,204,639.55. This trade represents a 0.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SLR Investment

Large investors have recently modified their holdings of the stock. N.E.W. Advisory Services LLC bought a new stake in SLR Investment in the second quarter valued at $28,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of SLR Investment in the 4th quarter valued at $59,000. Ascentis Independent Advisors acquired a new stake in shares of SLR Investment in the 1st quarter valued at $69,000. Allworth Financial LP bought a new stake in shares of SLR Investment in the 2nd quarter worth about $93,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of SLR Investment by 211.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider's stock worth $98,000 after purchasing an additional 4,292 shares during the last quarter. 35.32% of the stock is currently owned by institutional investors.

About SLR Investment

SLR Investment Corp. NASDAQ: SLRC is a business development company that provides financing to middle-market companies, primarily in the United States. The company invests mainly in senior secured loans and other debt instruments, with a focus on businesses that may require flexible capital solutions to support acquisitions, growth, recapitalizations, refinancing, and other corporate initiatives.

SLR Investment may also make subordinated debt and equity investments, including investments alongside its lending activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.