SLR Investment (NASDAQ:SLRC) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

SLR Investment Corp. (NASDAQ:SLRC) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $11.83 and traded as high as $12.48. SLR Investment shares last traded at $12.19, with a volume of 826,480 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on SLRC shares. Zacks Research raised SLR Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Wall Street Zen raised SLR Investment from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLR Investment in a research report on Monday, October 26th. Finally, B. Riley Financial cut shares of SLR Investment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.10.

SLR Investment Trading Up 3.3%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average of $11.83 and a 200-day moving average of $13.37. The stock has a market cap of $665.09 million, a PE ratio of 11.50 and a beta of 0.69.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. SLR Investment had a return on equity of 7.58% and a net margin of 28.75%. The company had revenue of $49.34 million during the quarter, compared to the consensus estimate of $48.93 million. On average, analysts anticipate that SLR Investment Corp. will post 1.31 EPS for the current year.

SLR Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.2%. SLR Investment’s dividend payout ratio (DPR) is presently 91.85%.

Insider Buying and Selling

In related news, insider Michael Gross acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $12.35 per share, for a total transaction of $247,000.00. Following the transaction, the insider owned 4,065,153 shares in the company, valued at $50,204,639.55. This trade represents a 0.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On SLR Investment

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of SLR Investment during the second quarter worth about $2,513,000. Clear Harbor Asset Management LLC purchased a new position in shares of SLR Investment during the second quarter valued at approximately $4,205,000. Sound Income Strategies LLC lifted its stake in shares of SLR Investment by 7,441.0% during the third quarter. Sound Income Strategies LLC now owns 1,629,154 shares of the financial services provider’s stock valued at $18,735,000 after buying an additional 1,607,550 shares during the period. Bank of America Corp DE acquired a new stake in SLR Investment during the second quarter worth approximately $2,070,000. Finally, Legal & General Group Plc purchased a new stake in SLR Investment in the 2nd quarter worth approximately $5,516,000. 35.32% of the stock is owned by institutional investors and hedge funds.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to support businesses that may have limited access to traditional bank financing by investing in a range of debt and equity securities.

Its investment activities generally focus on senior secured loans, subordinated debt, mezzanine investments and equity interests. SLR Investment typically partners with private equity sponsors and company management teams, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.