NewEdge Wealth LLC Acquires New Holdings in SLR Investment Corp. (NASDAQ:SLRC)

NewEdge Wealth LLC bought a new stake in shares of SLR Investment Corp. (NASDAQ:SLRC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 118,427 shares of the financial services provider’s stock, valued at approximately $1,780,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of SLR Investment by 1,693.5% during the 4th quarter. International Assets Investment Management LLC now owns 32,480 shares of the financial services provider’s stock worth $488,000 after buying an additional 30,669 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of SLR Investment by 22.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,748 shares of the financial services provider’s stock worth $252,000 after buying an additional 3,081 shares in the last quarter. Raymond James & Associates raised its position in shares of SLR Investment by 41.0% during the 4th quarter. Raymond James & Associates now owns 112,343 shares of the financial services provider’s stock worth $1,689,000 after buying an additional 32,647 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of SLR Investment by 2.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 84,588 shares of the financial services provider’s stock worth $1,302,000 after buying an additional 2,320 shares in the last quarter. Finally, Citigroup Inc. bought a new stake in shares of SLR Investment during the 3rd quarter worth about $25,000. 35.32% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Michael S. Gross purchased 46,700 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $15.44 per share, for a total transaction of $721,048.00. Following the completion of the acquisition, the insider now directly owns 3,735,524 shares of the company’s stock, valued at $57,676,490.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael S. Gross purchased 46,700 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $15.44 per share, for a total transaction of $721,048.00. Following the completion of the acquisition, the insider now directly owns 3,735,524 shares of the company’s stock, valued at $57,676,490.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael S. Gross purchased 22,636 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $15.74 per share, for a total transaction of $356,290.64. Following the acquisition, the insider now directly owns 3,804,860 shares of the company’s stock, valued at $59,888,496.40. The disclosure for this purchase can be found here. Insiders have bought 109,336 shares of company stock worth $1,680,539 over the last 90 days. 8.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of SLR Investment from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. B. Riley boosted their target price on shares of SLR Investment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, SLR Investment presently has a consensus rating of “Hold” and an average target price of $14.25.

SLR Investment Stock Down 1.7 %

NASDAQ SLRC opened at $14.83 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day simple moving average is $15.10 and its 200 day simple moving average is $15.04. SLR Investment Corp. has a 12 month low of $13.48 and a 12 month high of $15.86. The company has a market capitalization of $809.12 million, a P/E ratio of 10.59 and a beta of 1.11.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. SLR Investment had a net margin of 33.31% and a return on equity of 9.36%. The business had revenue of $59.79 million for the quarter, compared to the consensus estimate of $59.00 million. Equities research analysts expect that SLR Investment Corp. will post 1.73 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 11.06%. SLR Investment’s dividend payout ratio is currently 117.14%.

SLR Investment Profile

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.