Royal Bank of Canada Increases Position in Solar Senior Capital Ltd. (SUNS)
Royal Bank of Canada lifted its holdings in Solar Senior Capital Ltd. (NASDAQ:SUNS) by 0.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,540 shares of the asset manager’s stock after purchasing an additional 40 shares during the period. Royal Bank of Canada’s holdings in Solar Senior Capital were worth $294,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Inc. grew its holdings in Solar Senior Capital by 1.4% during the 2nd quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after acquiring an additional 95 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Solar Senior Capital by 0.4% during the 2nd quarter. Wedbush Securities Inc. now owns 11,122 shares of the asset manager’s stock worth $186,000 after acquiring an additional 48 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Solar Senior Capital by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock worth $308,000 after acquiring an additional 388 shares in the last quarter. Summit Global Investments acquired a new position in Solar Senior Capital during the 2nd quarter worth approximately $493,000. Finally, Russell Investments Group Ltd. grew its holdings in Solar Senior Capital by 166.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,360 shares of the asset manager’s stock worth $508,000 after acquiring an additional 18,968 shares in the last quarter. Institutional investors own 31.12% of the company’s stock.
Several research firms have commented on SUNS. Zacks Investment Research upgraded shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub cut shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.75.
Shares of Solar Senior Capital Ltd. (NASDAQ SUNS) opened at $18.02 on Monday. The firm has a market cap of $288.94, a P/E ratio of 12.87, a PEG ratio of 2.56 and a beta of 0.63. Solar Senior Capital Ltd. has a 12-month low of $15.89 and a 12-month high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.82 million. Solar Senior Capital had a net margin of 76.43% and a return on equity of 8.39%. analysts forecast that Solar Senior Capital Ltd. will post 1.41 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.1175 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.41 annualized dividend and a dividend yield of 7.82%. Solar Senior Capital’s dividend payout ratio is presently 97.92%.
Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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