SLR Investment (NASDAQ:SLRC) Reaches New 12-Month Low - What's Next?

Key Points

• SLR Investment shares hit a new 52-week low, trading as low as $11.53 and closing near $11.64. The stock remains below its 50-day and 200-day moving averages.
• Analysts have a consensus “Hold” rating with an average price target of $14.10, although JPMorgan recently lowered its target to $12.00 and assigned an “underweight” rating.
• The company reported quarterly EPS of $0.33, in line with estimates, and maintains a quarterly dividend of $0.31 per share—an annualized yield of approximately 10.7%. Insider Michael Gross also purchased 20,000 shares.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday. The stock traded as low as $11.53 and last traded at $11.64, with a volume of 407341 shares traded. The stock had previously closed at $11.74.

Wall Street Analysts Forecast Growth

Several equities 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. Wall Street Zen upgraded SLR Investment from a "sell" rating to a "hold" rating in a research report on Saturday. Zacks Research raised SLR Investment from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price target on SLR Investment from $13.50 to $12.00 and set an "underweight" rating for the company in a research report on Thursday, July 2nd. Finally, Weiss Ratings downgraded SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.10.

SLR Investment Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $635.08 million, a price-to-earnings ratio of 8.62 and a beta of 0.64. The company has a 50-day moving average of $12.57 and a 200-day moving average of $13.31.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced 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. The firm had revenue of $20.50 million for the quarter, compared to analysts' expectations of $48.82 million. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. As a group, equities research analysts expect that SLR Investment Corp. will post 1.31 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.7%. SLR Investment's payout ratio is 91.85%.

Insider Buying and Selling at SLR Investment

In other news, insider Michael Gross acquired 20,000 shares of SLR Investment stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average price of $12.35 per share, with a total value 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 Securities & Exchange Commission, which is available at this hyperlink. 8.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC acquired a new stake in SLR Investment in the 2nd quarter worth about $28,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of SLR Investment during the 4th quarter valued at about $59,000. Ascentis Independent Advisors acquired a new stake in shares of SLR Investment in the first quarter worth approximately $69,000. Allworth Financial LP purchased a new stake in SLR Investment in the second quarter valued at approximately $93,000. Finally, Rockefeller Capital Management L.P. increased its position in SLR Investment by 211.1% during the fourth 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. Hedge funds and other institutional investors own 35.32% of the company's stock.

SLR Investment Company Profile

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.

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