Truist Financial Corp Sells 36,090 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Truist Financial Corp lowered its holdings in shares of SLR Investment Corp. (NASDAQ:SLRC) by 67.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,787 shares of the financial services provider’s stock after selling 36,090 shares during the quarter. Truist Financial Corp’s holdings in SLR Investment were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of SLR Investment by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 935,970 shares of the financial services provider’s stock valued at $15,060,000 after purchasing an additional 17,774 shares in the last quarter. Condor Capital Management bought a new position in shares of SLR Investment during the 2nd quarter valued at $4,118,000. Raymond James & Associates raised its holdings in shares of SLR Investment by 5.4% during the 2nd quarter. Raymond James & Associates now owns 225,465 shares of the financial services provider’s stock valued at $3,628,000 after purchasing an additional 11,637 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of SLR Investment by 0.9% during the 2nd quarter. Confluence Investment Management LLC now owns 185,372 shares of the financial services provider’s stock valued at $2,983,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of SLR Investment by 1.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,962 shares of the financial services provider’s stock valued at $2,220,000 after purchasing an additional 1,897 shares in the last quarter. Institutional investors own 35.32% of the company’s stock.

SLR Investment Stock Performance

NASDAQ SLRC opened at $15.24 on Friday. The company’s fifty day moving average is $15.30 and its two-hundred day moving average is $15.62. The firm has a market capitalization of $831.49 million, a price-to-earnings ratio of 8.20 and a beta of 1.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04. SLR Investment Corp. has a 52-week low of $13.93 and a 52-week high of $16.77.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) 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 analyst estimates of $58.23 million. During the same period in the previous year, the company posted $0.42 earnings per share. Equities research analysts forecast that SLR Investment Corp. will post 1.74 EPS for the current year.

SLR Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.76%. SLR Investment’s payout ratio is 88.17%.

Wall Street Analysts Forecast Growth

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

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.