SLR Investment (NASDAQ:SLRC) Reaches New 12-Month High – Still a Buy?

SLR Investment Corp. (NASDAQ:SLRC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $16.99 and last traded at $16.98, with a volume of 150573 shares. The stock had previously closed at $16.78.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their target price on shares of SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average price target of $15.25.

SLR Investment Stock Performance

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average is $16.52 and its 200-day moving average is $15.86. The stock has a market capitalization of $929.70 million, a PE ratio of 9.63 and a beta of 1.14.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $59.77 million for the quarter, compared to analysts’ expectations of $58.48 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, research analysts anticipate that SLR Investment Corp. will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On SLR Investment

A number of hedge funds have recently bought and sold shares of SLRC. Raymond James Financial Inc. purchased a new position in SLR Investment in the fourth quarter valued at $4,565,000. Strategic Financial Concepts LLC acquired a new position in SLR Investment in the fourth quarter valued at $1,902,000. Van ECK Associates Corp grew its holdings in shares of SLR Investment by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 1,044,152 shares of the financial services provider’s stock worth $16,874,000 after purchasing an additional 44,861 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of SLR Investment by 2.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 30,884 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 627 shares during the last quarter. Finally, Epiq Partners LLC acquired a new position in shares of SLR Investment in the 4th quarter valued at $1,047,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

About SLR Investment

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.