Global X MANAGEMENT CO LLC Raises Position in Solar Capital Ltd. (SLRC)
Global X MANAGEMENT CO LLC boosted its holdings in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 49.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,024 shares of the financial services provider’s stock after buying an additional 2,981 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Solar Capital were worth $195,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Solar Capital by 7.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 434,100 shares of the financial services provider’s stock worth $9,393,000 after purchasing an additional 29,985 shares during the last quarter. Cetera Investment Advisers purchased a new position in Solar Capital in the second quarter worth $673,000. Dynamic Technology Lab Private Ltd purchased a new position in Solar Capital in the second quarter worth $310,000. Arrowstreet Capital Limited Partnership purchased a new position in Solar Capital in the second quarter worth $475,000. Finally, Green Square Capital LLC grew its holdings in Solar Capital by 1.3% in the second quarter. Green Square Capital LLC now owns 16,796 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 212 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on SLRC shares. Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Ladenburg Thalmann Financial Services upgraded shares of Solar Capital from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. National Securities lifted their price objective on shares of Solar Capital from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Keefe, Bruyette & Woods set a $23.00 price objective on shares of Solar Capital and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and an average target price of $23.35.
Solar Capital Ltd. (SLRC) opened at $21.77 on Tuesday. The stock has a market cap of $927.20, a price-to-earnings ratio of 13.71, a P/E/G ratio of 2.74 and a beta of 0.55. Solar Capital Ltd. has a 1 year low of $20.14 and a 1 year high of $22.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51.
Solar Capital (NASDAQ:SLRC) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $36.15 million for the quarter, compared to analyst estimates of $35.95 million. Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. equities analysts anticipate that Solar Capital Ltd. will post 1.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 22nd will be issued a $0.41 dividend. This is a boost from Solar Capital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 21st. This represents a $1.64 dividend on an annualized basis and a yield of 7.53%. Solar Capital’s payout ratio is presently 95.24%.
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Solar Capital Profile
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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