SLR Investment (NASDAQ:SLRC) Stock Crosses Below 50-Day Moving Average - Here's Why

Key Points

• SLR Investment shares fell below the 50-day moving average, trading as low as $11.59 and last at $11.61, versus the average of $11.73.
• Analysts’ consensus rating is Hold, with an average price target of $13.92; ratings include three Buys, three Holds, and two Sells.
• Quarterly earnings of $0.33 per share matched estimates, while revenue of $49.34 million topped forecasts. The company declared a $0.31 quarterly dividend, equal to a 10.7% annualized yield.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.73 and traded as low as $11.59. SLR Investment shares last traded at $11.61, with a volume of 268,656 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of SLR Investment in a report on Monday, October 26th. Zacks Research raised shares of SLR Investment from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. B. Riley Financial dropped their price target on shares of SLR Investment from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, November 6th. Finally, Wall Street Zen raised SLR Investment from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, SLR Investment presently has an average rating of "Hold" and a consensus price target of $13.92.

SLR Investment Trading Down 1.2%

The company's fifty day moving average is $11.73 and its two-hundred day moving average is $13.26. The stock has a market cap of $623.11 million, a price-to-earnings ratio of 10.95 and a beta of 0.69. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.14.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share for the quarter, meeting analysts' consensus estimates of $0.33. The business had revenue of $49.34 million for the quarter, compared to analyst estimates of $48.93 million. SLR Investment had a net margin of 28.75% and a return on equity of 7.61%. On average, research analysts predict that SLR Investment Corp. will post 1.30 EPS for the current fiscal year.

SLR Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be paid a $0.31 dividend. The ex-dividend date is Monday, December 14th. This represents a $1.24 dividend on an annualized basis and a yield of 10.7%. SLR Investment's dividend payout ratio (DPR) is currently 116.98%.

Insider Transactions at SLR Investment

In other SLR Investment news, insider Michael Gross acquired 20,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost 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 $50,204,639.55. The trade was a 0.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On SLR Investment

Institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its holdings in SLR Investment by 7,441.0% in the third quarter. Sound Income Strategies LLC now owns 1,629,154 shares of the financial services provider's stock valued at $18,735,000 after purchasing an additional 1,607,550 shares in the last quarter. Legal & General Group Plc acquired a new stake in SLR Investment during the second quarter worth approximately $5,516,000. Clear Harbor Asset Management LLC purchased a new stake in shares of SLR Investment during the 2nd quarter worth approximately $4,205,000. Advisors Asset Management Inc. purchased a new stake in shares of SLR Investment during the 3rd quarter worth approximately $2,853,000. Finally, Van ECK Associates Corp boosted its holdings in shares of SLR Investment by 24.8% in the 2nd quarter. Van ECK Associates Corp now owns 1,104,114 shares of the financial services provider's stock valued at $13,658,000 after buying an additional 219,110 shares in the last quarter. Hedge funds and other institutional investors own 35.32% of the company's stock.

About SLR Investment

SLR Investment Corp. is a business development company that provides financing to middle-market businesses. It primarily invests in privately held companies through loans and other debt instruments, with a focus on senior secured lending. The company's financing may support business growth, acquisitions, refinancings, and recapitalizations. Its investments include senior secured and unitranche loans, as well as, in some cases, subordinated debt and equity interests. SLR Investment Corp. is externally managed by SLR Capital Partners and primarily serves businesses in the United States.

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