Silver Spike Investment (NASDAQ:SSIC) Posts Earnings Results, Meets Estimates

Silver Spike Investment (NASDAQ:SSIC) announced its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28, Yahoo Finance reports.

Silver Spike Investment Price Performance

Shares of NASDAQ:SSIC opened at $9.86 on Thursday. The business’s 50-day moving average is $8.93 and its 200-day moving average is $9.13. Silver Spike Investment has a 1 year low of $7.29 and a 1 year high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date of this dividend is Tuesday, March 19th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Silver Spike Investment stock. Penserra Capital Management LLC bought a new stake in Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned approximately 1.81% of Silver Spike Investment at the end of the most recent reporting period. 4.36% of the stock is currently owned by institutional investors.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.