SLR Investment (NASDAQ:SLRC) Shares Pass Above 200 Day Moving Average – Here’s What Happened

SLR Investment Corp. (NASDAQ:SLRC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.76 and traded as high as $16.41. SLR Investment shares last traded at $16.30, with a volume of 196,826 shares traded.

Wall Street Analysts Forecast Growth

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

SLR Investment Stock Performance

The stock has a 50 day moving average price of $16.10 and a two-hundred day moving average price of $15.76. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $889.25 million, a price-to-earnings ratio of 9.21 and a beta of 1.14.

SLR Investment (NASDAQ:SLRC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $59.77 million during the quarter, compared to the consensus estimate of $58.48 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, analysts predict that SLR Investment Corp. will post 1.76 EPS for the current fiscal year.

SLR Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.06%. SLR Investment’s payout ratio is currently 92.66%.

Institutional Investors Weigh In On SLR Investment

Several institutional investors have recently modified their holdings of the business. Condor Capital Management bought a new stake in SLR Investment in the second quarter valued at about $4,118,000. Strategic Financial Concepts LLC bought a new stake in shares of SLR Investment in the 2nd quarter valued at about $1,639,000. Van ECK Associates Corp raised its position in shares of SLR Investment by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 999,291 shares of the financial services provider’s stock valued at $15,369,000 after acquiring an additional 63,321 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in SLR Investment by 109.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 113,893 shares of the financial services provider’s stock worth $1,714,000 after acquiring an additional 59,492 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in SLR Investment in the second quarter valued at approximately $786,000. 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.