SLR Investment Corp. (NASDAQ:SLRC) Sees Large Decline in Short Interest

SLR Investment Corp. (NASDAQ:SLRC) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 142,000 shares, a drop of 35.9% from the September 15th total of 221,500 shares. Based on an average daily trading volume, of 142,200 shares, the short-interest ratio is presently 1.0 days.

SLR Investment Stock Performance

Shares of SLRC traded up $0.07 during trading hours on Friday, hitting $15.06. The company had a trading volume of 180,696 shares, compared to its average volume of 159,101. The business has a fifty day moving average of $15.28 and a 200-day moving average of $15.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.16. The firm has a market cap of $821.60 million, a price-to-earnings ratio of 8.46 and a beta of 1.13. SLR Investment has a 12 month low of $13.93 and a 12 month high of $16.77.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $58.98 million during the quarter, compared to the consensus estimate of $58.23 million. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. During the same period last year, the business posted $0.42 earnings per share. Equities analysts anticipate that SLR Investment will post 1.74 EPS for the current fiscal year.

SLR Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.89%. SLR Investment’s payout ratio is presently 92.13%.

Analysts Set New Price Targets

Several analysts recently commented on SLRC shares. Wells Fargo & Company raised their price objective on SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, July 26th. StockNews.com assumed coverage on SLR Investment in a research report on Tuesday, July 23rd. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, SLR Investment presently has an average rating of “Hold” and a consensus target price of $15.25.

Hedge Funds Weigh In On SLR Investment

A number of hedge funds have recently bought and sold shares of the business. Condor Capital Management bought a new position in shares of SLR Investment during the second quarter worth approximately $4,118,000. Confluence Investment Management LLC acquired a new position in SLR Investment in the 1st quarter valued at $2,821,000. Strategic Financial Concepts LLC bought a new stake in shares of SLR Investment during the 2nd quarter valued at $1,639,000. Van ECK Associates Corp grew its holdings in shares of SLR Investment by 8.0% during the 1st quarter. Van ECK Associates Corp now owns 918,196 shares of the financial services provider’s stock worth $14,094,000 after purchasing an additional 68,320 shares in the last quarter. Finally, Pullen Investment Management LLC bought a new position in shares of SLR Investment in the first quarter worth $809,000. 35.32% of the stock is owned by institutional investors.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.