Sequoia Financial Advisors LLC Invests $250,000 in Solar Capital Ltd. (SLRC)
Sequoia Financial Advisors LLC bought a new position in Solar Capital Ltd. (NASDAQ:SLRC) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 13,126 shares of the company’s stock, valued at approximately $250,000.
Several other institutional investors also recently made changes to their positions in the company. Green Square Capital LLC bought a new position in shares of Solar Capital during the second quarter worth approximately $198,000. Commonwealth Equity Services Inc boosted its position in shares of Solar Capital by 1.0% in the first quarter. Commonwealth Equity Services Inc now owns 15,099 shares of the company’s stock worth $261,000 after buying an additional 145 shares during the period. Neville Rodie & Shaw Inc. boosted its position in shares of Solar Capital by 14.1% in the second quarter. Neville Rodie & Shaw Inc. now owns 48,500 shares of the company’s stock worth $924,000 after buying an additional 6,000 shares during the period. Sanders Morris Harris Inc. boosted its position in shares of Solar Capital by 0.8% in the second quarter. Sanders Morris Harris Inc. now owns 56,646 shares of the company’s stock worth $1,079,000 after buying an additional 423 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Solar Capital by 7.0% in the first quarter. BlackRock Group LTD now owns 167,007 shares of the company’s stock worth $2,886,000 after buying an additional 10,941 shares during the period. Hedge funds and other institutional investors own 58.54% of the company’s stock.
Shares of Solar Capital Ltd. (NASDAQ:SLRC) traded up 1.41% during midday trading on Wednesday, reaching $20.12. The company’s stock had a trading volume of 114,654 shares. The stock’s 50-day moving average is $20.39 and its 200-day moving average is $19.26. Solar Capital Ltd. has a one year low of $15.05 and a one year high of $20.88.
Solar Capital (NASDAQ:SLRC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Solar Capital had a return on equity of 7.83% and a net margin of 35.86%. On average, analysts expect that Solar Capital Ltd. will post $1.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.95%. Solar Capital’s dividend payout ratio (DPR) is presently 136.75%.
A number of equities analysts have recently commented on SLRC shares. Zacks Investment Research upgraded Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, August 5th. Deutsche Bank AG raised their price target on Solar Capital from $23.00 to $23.50 and gave the stock a “buy” rating in a research note on Thursday, August 4th. National Securities reissued a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Solar Capital in a research note on Thursday, August 4th. Keefe, Bruyette & Woods set a $21.50 price target on Solar Capital and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. raised their price target on Solar Capital from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.83.
Solar Capital Company Profile
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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