SLR Investment Corp. (NASDAQ:SLRC – Get Free Report) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.41 per share by the financial services provider on Friday, September 27th. This represents a $1.64 dividend on an annualized basis and a yield of 10.85%. The ex-dividend date is Friday, September 13th.
SLR Investment has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.
SLR Investment Price Performance
Shares of SLRC traded down $0.17 during midday trading on Friday, reaching $15.12. The stock had a trading volume of 34,162 shares, compared to its average volume of 161,901. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $824.87 million, a P/E ratio of 8.52 and a beta of 1.13. The firm’s 50 day moving average price is $15.99 and its 200-day moving average price is $15.57. SLR Investment has a 52 week low of $13.93 and a 52 week high of $16.77.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SLRC. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. B. Riley reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of SLR Investment in a report on Friday, May 10th. Keefe, Bruyette & Woods raised their price objective on SLR Investment from $15.50 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Wells Fargo & Company lifted their target price on SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, StockNews.com assumed coverage on SLR Investment in a report on Tuesday, July 23rd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average target price of $15.25.
View Our Latest Stock Report on SLR Investment
Insiders Place Their Bets
In related news, President Robyn Tannenbaum purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares in the company, valued at approximately $275,796.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, President Robyn Tannenbaum acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares in the company, valued at $275,796.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Colvin Roberts bought 25,000 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $15.98 per share, for a total transaction of $399,500.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $399,500. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 95,584 shares of company stock worth $1,255,125. 8.20% of the stock is currently owned by company insiders.
SLR Investment Company Profile
SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.
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