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

SLR Investment Corp. (NASDAQ:SLRC) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 609,038 shares, a growth of 23.8% from the February 26th total of 491,824 shares. Based on an average trading volume of 330,242 shares, the short-interest ratio is presently 1.8 days. Approximately 1.2% of the shares of the stock are short sold.

SLR Investment Trading Up 1.9%

Shares of SLRC opened at $14.31 on Wednesday. The stock’s fifty day simple moving average is $14.70 and its 200-day simple moving average is $15.11. The firm has a market capitalization of $780.68 million, a PE ratio of 8.42 and a beta of 0.69. SLR Investment has a 12-month low of $13.64 and a 12-month high of $17.19. 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 quarterly earnings data on Tuesday, February 24th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $54.46 million during the quarter, compared to analyst estimates of $54.97 million. SLR Investment had a return on equity of 8.76% and a net margin of 42.34%. As a group, research analysts predict that SLR Investment will post 1.76 earnings per share for the current year.

SLR Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This represents a $1.64 annualized dividend and a dividend yield of 11.5%. SLR Investment’s payout ratio is currently 96.47%.

Analysts Set New Price Targets

A number of research firms have commented on SLRC. Wells Fargo & Company reduced their price objective on SLR Investment from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 3rd. Compass Point upgraded SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research note on Tuesday, March 10th. Keefe, Bruyette & Woods cut their price target on SLR Investment from $16.50 to $15.00 and set a “market perform” rating for the company in a report on Monday. Raymond James Financial set a $16.00 price target on shares of SLR Investment and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of SLR Investment in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SLR Investment has an average rating of “Hold” and a consensus price target of $15.29.

Insider Activity at SLR Investment

In other SLR Investment news, insider Michael S. Gross bought 25,000 shares of SLR Investment stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $13.91 per share, with a total value of $347,750.00. Following the acquisition, the insider directly owned 4,014,701 shares of the company’s stock, valued at $55,844,490.91. The trade was a 0.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is owned by insiders.

Hedge Funds Weigh In On SLR Investment

Several large investors have recently bought and sold shares of SLRC. Ensign Peak Advisors Inc bought a new position in SLR Investment in the fourth quarter valued at approximately $5,411,000. Franklin Resources Inc. lifted its stake in shares of SLR Investment by 1,413.2% in the 2nd quarter. Franklin Resources Inc. now owns 354,701 shares of the financial services provider’s stock valued at $5,725,000 after purchasing an additional 331,260 shares during the period. Closed End Fund Advisors Inc. acquired a new position in shares of SLR Investment in the 4th quarter valued at $4,033,000. Millennium Management LLC bought a new position in shares of SLR Investment in the 3rd quarter worth $2,650,000. Finally, Muzinich & Co. Inc. grew its stake in shares of SLR Investment by 37.4% during the fourth quarter. Muzinich & Co. Inc. now owns 534,336 shares of the financial services provider’s stock worth $8,261,000 after purchasing an additional 145,323 shares during the period. 35.32% of the stock is currently owned by institutional investors and hedge funds.

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.