Sunbelt Securities Inc. Increases Stock Position in SLR Investment Corp. (NASDAQ:SLRC)

Sunbelt Securities Inc. increased its position in shares of SLR Investment Corp. (NASDAQ:SLRC) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,066 shares of the financial services provider’s stock after purchasing an additional 1,683 shares during the quarter. Sunbelt Securities Inc. owned approximately 0.16% of SLR Investment worth $1,433,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLRC. Condor Capital Management purchased a new position in shares of SLR Investment in the 2nd quarter worth approximately $4,118,000. Confluence Investment Management LLC bought a new position in SLR Investment in the 1st quarter valued at $2,821,000. Strategic Financial Concepts LLC purchased a new stake in shares of SLR Investment during the 2nd quarter valued at $1,639,000. Van ECK Associates Corp increased its position in shares of SLR Investment by 8.0% during the 1st quarter. Van ECK Associates Corp now owns 918,196 shares of the financial services provider’s stock valued at $14,094,000 after purchasing an additional 68,320 shares during the last quarter. Finally, Pullen Investment Management LLC bought a new stake in shares of SLR Investment during the 1st quarter worth $809,000. 35.32% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SLR Investment news, President Robyn Tannenbaum bought 3,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the purchase, the president now directly owns 24,959 shares of the company’s stock, valued at $275,796.95. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other SLR Investment news, President Robyn Tannenbaum acquired 3,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was bought at an average price of $11.05 per share, with a total value of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares of the company’s stock, valued at $275,796.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Leonard M. Tannenbaum acquired 56,584 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $12.80 per share, for a total transaction of $724,275.20. Following the completion of the transaction, the chairman now owns 184,803 shares of the company’s stock, valued at approximately $2,365,478.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 70,584 shares of company stock worth $855,625. Corporate insiders own 8.20% of the company’s stock.

SLR Investment Price Performance

Shares of NASDAQ SLRC opened at $15.05 on Tuesday. The stock has a fifty day moving average of $15.40 and a 200-day moving average of $15.64. The stock has a market cap of $821.05 million, a PE ratio of 8.46 and a beta of 1.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 1.04. SLR Investment Corp. has a fifty-two week low of $13.93 and a fifty-two week high of $16.77.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. SLR Investment had a return on equity of 9.65% and a net margin of 42.99%. The firm had revenue of $58.98 million for the quarter, compared to analysts’ expectations of $58.23 million. During the same period in the prior year, the business posted $0.42 earnings per share. Equities research analysts anticipate that SLR Investment Corp. will post 1.74 earnings per share for the current year.

SLR Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a dividend yield of 10.90%. SLR Investment’s payout ratio is currently 92.13%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut SLR Investment from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $15.50 to $15.00 in a research note on Monday, July 29th. Finally, StockNews.com started coverage on shares of SLR Investment in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, SLR Investment has an average rating of “Hold” and a consensus target price of $15.25.

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.