Wells Fargo & Company Increases SLR Investment (NASDAQ:SLRC) Price Target to $13.00

SLR Investment (NASDAQ:SLRC) had its price objective upped by Wells Fargo & Company from $12.50 to $13.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com initiated coverage on SLR Investment in a research note on Tuesday, July 23rd. They set a “hold” rating for the company. JPMorgan Chase & Co. cut SLR Investment from a “neutral” rating to an “underweight” rating and cut their target price for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.25.

SLR Investment Trading Down 0.8 %

NASDAQ SLRC opened at $15.97 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. SLR Investment has a 52 week low of $14.41 and a 52 week high of $16.77. The business has a 50 day moving average price of $15.32 and a 200-day moving average price of $15.68. The company has a market cap of $871.24 million, a price-to-earnings ratio of 9.02 and a beta of 1.12.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. The business had revenue of $59.77 million during the quarter, compared to analyst estimates of $58.48 million. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, equities analysts expect that SLR Investment will post 1.74 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.27%. The ex-dividend date is Friday, December 13th. SLR Investment’s dividend payout ratio is presently 92.66%.

Hedge Funds Weigh In On SLR Investment

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in SLR Investment by 1,683.6% in the 3rd quarter. International Assets Investment Management LLC now owns 38,543 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 36,382 shares during the period. Condor Capital Management purchased a new stake in shares of SLR Investment during the second quarter worth $4,118,000. Hennion & Walsh Asset Management Inc. grew its position in shares of SLR Investment by 182.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,401 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 35,128 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in SLR Investment during the 2nd quarter valued at about $1,639,000. Finally, Dimensional Fund Advisors LP bought a new stake in SLR Investment during the 2nd quarter worth approximately $786,000. Hedge funds and other institutional investors 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.