North Ground Capital Invests $2.08 Billion in SLR Investment Corp. $SLRC

North Ground Capital acquired a new stake in SLR Investment Corp. (NASDAQ:SLRC) during the second quarter, Holdings Channel reports. The institutional investor acquired 168,000 shares of the financial services provider’s stock, valued at approximately $2,078,160,000. SLR Investment accounts for about 2.5% of North Ground Capital’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors have also made changes to their positions in SLRC. Clear Harbor Asset Management LLC acquired a new position in SLR Investment during the second quarter worth $4,205,000. Allworth Financial LP acquired a new stake in SLR Investment in the 2nd quarter valued at $93,000. NewEdge Wealth LLC acquired a new stake in SLR Investment in the 2nd quarter valued at $1,256,000. BlackRock Inc. bought a new stake in SLR Investment during the 2nd quarter worth about $2,513,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of SLR Investment in the 2nd quarter valued at about $28,000. Institutional investors own 35.32% of the company’s stock.

SLR Investment Price Performance

SLR Investment stock opened at $12.63 on Monday. The firm has a market capitalization of $689.09 million, a PE ratio of 9.36 and a beta of 0.64. The company’s 50-day moving average is $12.75 and its 200-day moving average is $13.79. SLR Investment Corp. has a fifty-two week low of $12.13 and a fifty-two week high of $16.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.09.

SLR Investment (NASDAQ:SLRC) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. SLR Investment had a net margin of 35.20% and a return on equity of 7.96%. The business had revenue of $20.50 million during the quarter, compared to the consensus estimate of $48.82 million. Sell-side analysts anticipate that SLR Investment Corp. will post 1.31 earnings per share for the current year.

SLR Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 9.8%. SLR Investment’s dividend payout ratio is currently 91.85%.

Analyst Ratings Changes

SLRC has been the topic of a number of recent research reports. B. Riley Financial downgraded SLR Investment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Zacks Research upgraded SLR Investment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lowered their price target on SLR Investment from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on SLR Investment from $13.50 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded SLR Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.10.

SLR Investment Company Profile

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.