SLR Investment Corp. (NASDAQ:SLRC) Sees Significant Increase in Short Interest

SLR Investment Corp. (NASDAQ:SLRC) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 589,790 shares, a growth of 21.6% from the March 31st total of 484,904 shares. Based on an average daily volume of 305,855 shares, the short-interest ratio is currently 1.9 days. Currently, 1.2% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of SLR Investment from $16.50 to $15.00 and set a “market perform” rating for the company in a report on Monday, March 30th. Raymond James Financial set a $16.00 price target on shares of SLR Investment and gave the company an “outperform” rating in a report on Wednesday, February 25th. Compass Point upgraded shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of SLR Investment from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of SLR Investment from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.29.

Insider Buying and Selling

In other news, insider Michael S. Gross bought 10,452 shares of the stock in a transaction on Monday, March 16th. The stock was purchased at an average price of $13.90 per share, with a total value of $145,282.80. Following the completion of the purchase, the insider owned 4,025,153 shares of the company’s stock, valued at approximately $55,949,626.70. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in SLR Investment by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 378,888 shares of the financial services provider’s stock worth $5,422,000 after purchasing an additional 1,619 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in SLR Investment during the first quarter worth $143,000. Meridian Investment Counsel Inc. boosted its holdings in SLR Investment by 52.4% during the first quarter. Meridian Investment Counsel Inc. now owns 62,275 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 21,400 shares during the last quarter. Abel Hall LLC acquired a new position in SLR Investment during the first quarter worth $143,000. Finally, Ascentis Independent Advisors acquired a new position in SLR Investment during the first quarter worth $69,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

SLR Investment Stock Up 0.3%

SLRC traded up $0.04 during trading hours on Friday, hitting $15.84. 364,105 shares of the company’s stock were exchanged, compared to its average volume of 316,043. SLR Investment has a 1-year low of $13.78 and a 1-year high of $17.19. The stock’s 50-day moving average is $14.84 and its two-hundred day moving average is $15.12. The stock has a market cap of $864.31 million, a price-to-earnings ratio of 9.33 and a beta of 0.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.15.

SLR Investment (NASDAQ:SLRC) last announced its earnings results on Tuesday, February 24th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. SLR Investment had a net margin of 42.34% and a return on equity of 8.76%. The business had revenue of $54.46 million during the quarter, compared to analysts’ expectations of $54.97 million. Sell-side analysts predict that SLR Investment will post 1.62 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This represents a $1.64 annualized dividend and a yield of 10.4%. SLR Investment’s dividend payout ratio is presently 96.47%.

About SLR Investment

SLR Investment Corp. (NASDAQ: SLRC) is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.