SLR Investment (NASDAQ:SLRC) Reaches New 52-Week Low - What's Next?

Key Points

• SLR Investment shares fell to a new 52-week low of $11.18, below the previous close of $11.38, with the stock trading below its 50-day and 200-day moving averages.
• Analyst sentiment has weakened: the consensus rating is “Hold”, with two Buy, four Hold and two Sell ratings. JPMorgan also cut its price target to $12 from $13.50, while the consensus target remains $14.10.
• The company reported quarterly EPS of $0.33, matching estimates, and maintains an attractive but high dividend yield of 11.1% based on its $0.31 quarterly payout. Insider Michael Gross also purchased 20,000 shares at $12.35.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $11.18 and last traded at $11.1610, with a volume of 47,925 shares changing hands. The stock had previously closed at $11.38.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SLRC shares. B. Riley Financial cut shares of SLR Investment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Wall Street Zen cut shares of SLR Investment from a "hold" rating to a "sell" rating in a research report on Saturday. Zacks Research raised shares of SLR Investment from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of SLR Investment from $13.50 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, July 2nd. Two equities research 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. According to data from MarketBeat, SLR Investment presently has an average rating of "Hold" and a consensus target price of $14.10.

SLR Investment Stock Performance

The company has a market capitalization of $609.16 million, a PE ratio of 8.29 and a beta of 0.69. The company has a 50 day moving average of $12.16 and a two-hundred day moving average of $13.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.09.

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 net margin of 35.20% and a return on equity of 7.96%. As a group, equities research analysts predict that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend was Friday, September 11th. SLR Investment's dividend payout ratio (DPR) is 91.85%.

Insider Buying and Selling

In other SLR Investment news, insider Michael Gross acquired 20,000 shares of the company's 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 directly owned 4,065,153 shares of the company's stock, valued at approximately $50,204,639.55. The trade was a 0.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.10% of the stock is owned by insiders.

Institutional Trading of SLR Investment

Hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of SLR Investment in the 2nd quarter worth approximately $28,000. Ascentis Independent Advisors bought a new stake in SLR Investment in the first quarter worth $69,000. Rockefeller Capital Management L.P. boosted its holdings in SLR Investment by 211.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider's stock worth $98,000 after acquiring an additional 4,292 shares in the last quarter. Allworth Financial LP bought a new position in shares of SLR Investment during the second quarter valued at $93,000. Finally, Nicholas Hoffman & Company LLC. purchased a new position in shares of SLR Investment in the 1st quarter worth about $143,000. 35.32% of the stock is owned by institutional investors.

About SLR Investment

SLR Investment Corp. NASDAQ: SLRC is a closed-end business development company that provides financing to middle-market companies. The company primarily invests in privately held businesses through senior secured loans, including first-lien and unitranche loans, and may also make subordinated debt and equity investments.

SLR Investment focuses on companies with established operations across a range of industries. Its investment strategy is designed to provide businesses with capital for acquisitions, recapitalizations, growth initiatives, refinancings and other general corporate purposes.

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.