SLR Investment (NASDAQ:SLRC) Rating Lowered to Hold at B. Riley Financial

Key Points

• B. Riley Financial downgraded SLR Investment from “strong buy” to “hold,” while other firms also issued cautious views. MarketBeat’s consensus rating is “Hold,” with an average price target of $14.10.
• SLR Investment reported quarterly earnings of $0.33 per share, matching estimates, but revenue of $20.50 million fell well short of the $48.82 million consensus forecast.
• The stock opened at $13.04, near its 12-month low of $12.13, and institutional investors and hedge funds own approximately 35.32% of the company.

SLR Investment (NASDAQ:SLRC - Get Free Report) was downgraded by B. Riley Financial from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on SLRC. Wall Street Zen downgraded SLR Investment from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of SLR Investment from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Wells Fargo & Company decreased their price objective on SLR Investment from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Zacks Research upgraded shares of SLR Investment from a "strong sell" rating to a "hold" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, SLR Investment currently has an average rating of "Hold" and an average target price of $14.10.

SLR Investment Price Performance

Shares of NASDAQ:SLRC opened at $13.04 on Tuesday. SLR Investment has a 12 month low of $12.13 and a 12 month high of $16.83. The firm has a market capitalization of $711.46 million, a price-to-earnings ratio of 9.66 and a beta of 0.64. The business's 50 day simple moving average is $12.77 and its 200-day simple moving average is $13.88. 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 quarterly earnings results on Tuesday, August 4th. 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 $20.50 million during 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 analysts forecast that SLR Investment will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SLR Investment

Several hedge funds and other institutional investors have recently modified their holdings of SLRC. JPMorgan Chase & Co. increased its position in SLR Investment by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,357,679 shares of the financial services provider's stock worth $20,990,000 after purchasing an additional 15,264 shares in the last quarter. UBS Group AG lifted its position in SLR Investment by 15.5% during the fourth quarter. UBS Group AG now owns 577,728 shares of the financial services provider's stock valued at $8,932,000 after buying an additional 77,705 shares in the last quarter. Franklin Resources Inc. grew its stake in SLR Investment by 8.0% during the fourth quarter. Franklin Resources Inc. now owns 449,290 shares of the financial services provider's stock worth $6,946,000 after buying an additional 33,185 shares during the period. Two Sigma Investments LP grew its stake in SLR Investment by 25.4% during the third quarter. Two Sigma Investments LP now owns 380,119 shares of the financial services provider's stock worth $5,812,000 after buying an additional 76,931 shares during the period. Finally, Legal & General Group Plc increased its position in shares of SLR Investment by 18.5% in the fourth quarter. Legal & General Group Plc now owns 379,906 shares of the financial services provider's stock worth $5,873,000 after acquiring an additional 59,194 shares in the last quarter. 35.32% of the stock is owned by institutional investors and hedge funds.

SLR Investment Company Profile

SLR Investment Corp. NASDAQ: SLRC is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.

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