SLR Investment Corp. (NASDAQ:SLRC) Sees Significant Increase in Short Interest

SLR Investment Corp. (NASDAQ:SLRC) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 195,300 shares, a growth of 19.2% from the May 31st total of 163,900 shares. Based on an average daily volume of 148,700 shares, the short-interest ratio is currently 1.3 days.

SLR Investment Price Performance

SLRC opened at $15.96 on Tuesday. SLR Investment has a 1 year low of $13.93 and a 1 year high of $16.77. 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 $870.78 million, a price-to-earnings ratio of 8.97 and a beta of 1.13. The firm’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $15.45.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The firm had revenue of $58.10 million during the quarter, compared to the consensus estimate of $58.96 million. SLR Investment had a return on equity of 9.51% and a net margin of 41.66%. As a group, analysts anticipate that SLR Investment will post 1.74 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.41 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.64 annualized dividend and a dividend yield of 10.28%. SLR Investment’s payout ratio is presently 92.13%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SLRC. B. Riley reaffirmed a “neutral” rating and set a $17.00 target price (up previously from $16.00) on shares of SLR Investment in a research note on Friday, May 10th. Keefe, Bruyette & Woods raised their target price on SLR Investment from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.88.

Insider Transactions at SLR Investment

In other news, Director Andrea Colvin Roberts acquired 25,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $15.98 per share, for a total transaction of $399,500.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $399,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of SLR Investment

Hedge funds and other institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC bought a new position in shares of SLR Investment in the first quarter worth $2,821,000. Truist Financial Corp bought a new position in SLR Investment in the 4th quarter worth about $310,000. Raymond James & Associates grew its holdings in SLR Investment by 41.0% during the 4th quarter. Raymond James & Associates now owns 112,343 shares of the financial services provider’s stock valued at $1,689,000 after buying an additional 32,647 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of SLR Investment by 6.5% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 80,400 shares of the financial services provider’s stock valued at $1,208,000 after buying an additional 4,875 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of SLR Investment by 7.1% in the fourth quarter. Natixis Advisors L.P. now owns 17,418 shares of the financial services provider’s stock worth $261,000 after buying an additional 1,154 shares in the last quarter. Institutional investors 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.