Advisory Research Inc. Has $9,989,000 Stake in Solar Capital Ltd. (SLRC)
Advisory Research Inc. maintained its position in Solar Capital Ltd. (NASDAQ:SLRC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 441,803 shares of the financial services provider’s stock at the close of the second quarter. Advisory Research Inc.’s holdings in Solar Capital were worth $9,989,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Muzinich & Co. Inc. increased its position in Solar Capital by 20.7% during the second quarter. Muzinich & Co. Inc. now owns 1,888,476 shares of the financial services provider’s stock worth $41,301,000 after buying an additional 323,733 shares during the last quarter. UBS Group AG increased its position in Solar Capital by 13.5% during the first quarter. UBS Group AG now owns 1,594,885 shares of the financial services provider’s stock worth $36,060,000 after buying an additional 189,227 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Solar Capital during the second quarter worth $2,389,000. Clough Capital Partners L P increased its position in Solar Capital by 12.0% during the first quarter. Clough Capital Partners L P now owns 825,572 shares of the financial services provider’s stock worth $18,666,000 after buying an additional 88,141 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Solar Capital by 18.9% during the second quarter. Advisors Asset Management Inc. now owns 375,783 shares of the financial services provider’s stock worth $8,218,000 after buying an additional 59,621 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Solar Capital Ltd. (NASDAQ SLRC) traded up 0.28% during midday trading on Monday, hitting $21.79. The stock had a trading volume of 7,092 shares. Solar Capital Ltd. has a 1-year low of $19.26 and a 1-year high of $22.94. The company’s 50 day moving average price is $21.29 and its 200-day moving average price is $21.80.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $33.89 million for the quarter, compared to analyst estimates of $36.51 million. Solar Capital had a return on equity of 7.30% and a net margin of 54.87%. Equities research analysts expect that Solar Capital Ltd. will post $1.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Thursday, September 21st were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 20th. This represents a $1.60 annualized dividend and a dividend yield of 7.36%. Solar Capital’s dividend payout ratio is presently 85.11%.
Several equities analysts have commented on SLRC shares. Zacks Investment Research raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 target price on shares of Solar Capital and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, National Securities reissued a “buy” rating and set a $24.00 target price on shares of Solar Capital in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.10.
About Solar Capital
Solar Capital Ltd. is a closed-end, externally managed, non-diversified 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 privately held the United States middle market companies.
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