SLR Investment (NASDAQ:SLRC) Sets New 12-Month Low - Here's Why

Key Points

• SLR Investment shares hit a new 52-week low, trading as low as $11.97 and closing near $12.03. The stock remains below its 50-day and 200-day moving averages of $12.75 and $13.47, respectively.
• Analyst sentiment is currently “Hold,” with two Buy, four Hold, and two Sell ratings; the average price target is $14.10, while JPMorgan recently cut its target to $12.00 and assigned an Underweight rating.
• The company met quarterly EPS expectations at $0.33 but reported revenue of $20.5 million versus a $48.82 million estimate. SLR Investment announced a $0.31 quarterly dividend, representing a 10.3% yield, while insider Michael Gross purchased 20,000 shares.

Shares of SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $11.97 and last traded at $12.03, with a volume of 431551 shares traded. The stock had previously closed at $12.07.

Analyst Upgrades and Downgrades

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

SLR Investment Stock Down 0.3%

The business's fifty day moving average is $12.75 and its two-hundred day moving average is $13.47. The company has a market cap of $656.36 million, a P/E ratio of 8.91 and a beta of 0.64. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.09.

SLR Investment (NASDAQ:SLRC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.33. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $48.82 million. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. Equities analysts predict that SLR Investment Corp. will post 1.31 EPS for the current year.

SLR Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 yield of 10.3%. The ex-dividend date is Friday, September 11th. SLR Investment's payout ratio is 91.85%.

Insider Buying and Selling at SLR Investment

In related news, insider Michael Gross bought 20,000 shares of the company's stock in a transaction on Thursday, September 10th. The shares were bought at an average price of $12.35 per share, with a total value of $247,000.00. Following the transaction, the insider owned 4,065,153 shares in the company, valued at approximately $50,204,639.55. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.80% of the company's stock.

Institutional Trading of SLR Investment

Several institutional investors and hedge funds have recently bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new stake in shares of SLR Investment during the 2nd quarter worth about $28,000. Greykasell Wealth Strategies Inc. acquired a new position in SLR Investment in the 4th quarter worth about $59,000. Ascentis Independent Advisors acquired a new position in SLR Investment in the 1st quarter worth about $69,000. Rockefeller Capital Management L.P. boosted 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 in the last quarter. Finally, Allworth Financial LP purchased a new position in SLR Investment during the second quarter worth approximately $93,000. 35.32% of the stock is currently owned by institutional investors and hedge funds.

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.