Wells Fargo & Company Cuts SLR Investment (NASDAQ:SLRC) Price Target to $12.50

SLR Investment (NASDAQ:SLRC) had its price target cut by Wells Fargo & Company from $13.00 to $12.50 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded SLR Investment from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $15.50 to $15.00 in a research report on Monday, July 29th. StockNews.com started coverage on SLR Investment in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.13.

SLR Investment Price Performance

Shares of NASDAQ SLRC opened at $15.28 on Tuesday. The stock has a market cap of $833.68 million, a P/E ratio of 8.22 and a beta of 1.13. The firm’s 50-day simple moving average is $15.33 and its 200 day simple moving average is $15.65. SLR Investment has a fifty-two week low of $14.41 and a fifty-two week high of $16.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.16.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $58.98 million for the quarter, compared to the consensus estimate of $58.23 million. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. During the same period in the previous year, the firm earned $0.42 EPS. Equities analysts expect that SLR Investment will post 1.75 EPS for the current year.

SLR Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a yield of 10.73%. SLR Investment’s dividend payout ratio (DPR) is 88.17%.

Institutional Investors Weigh In On SLR Investment

A number of institutional investors and hedge funds have recently modified their holdings of SLRC. Confluence Investment Management LLC raised its position in shares of SLR Investment by 0.8% during the third quarter. Confluence Investment Management LLC now owns 186,928 shares of the financial services provider’s stock worth $2,813,000 after purchasing an additional 1,556 shares during the period. Wedbush Securities Inc. raised its holdings in SLR Investment by 4.1% during the 2nd quarter. Wedbush Securities Inc. now owns 40,900 shares of the financial services provider’s stock worth $658,000 after buying an additional 1,616 shares during the period. Sunbelt Securities Inc. lifted its stake in SLR Investment by 1.9% during the second quarter. Sunbelt Securities Inc. now owns 89,066 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 1,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SLR Investment by 1.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,962 shares of the financial services provider’s stock worth $2,220,000 after buying an additional 1,897 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of SLR Investment in the second quarter worth approximately $35,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

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.