Silver Spike Investment (NASDAQ:SSIC) Shares Up 0.2%

Silver Spike Investment Corp. (NASDAQ:SSICGet Free Report)’s share price rose 0.2% during mid-day trading on Monday . The company traded as high as $11.39 and last traded at $11.37. Approximately 24,280 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 13,938 shares. The stock had previously closed at $11.35.

Silver Spike Investment Stock Performance

The stock has a 50-day moving average of $10.78 and a 200-day moving average of $9.59. The firm has a market cap of $70.61 million, a price-to-earnings ratio of 13.07 and a beta of 0.28.

Silver Spike Investment (NASDAQ:SSICGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Silver Spike Investment had a net margin of 44.98% and a return on equity of 5.96%. The firm had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.38 million. During the same period in the prior year, the business posted $0.22 EPS. Sell-side analysts predict that Silver Spike Investment Corp. will post 0.63 EPS for the current fiscal year.

Silver Spike Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date is Thursday, June 20th. Silver Spike Investment’s dividend payout ratio is presently 114.94%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Silver Spike Investment stock. O Shaughnessy Asset Management LLC purchased a new stake in Silver Spike Investment Corp. (NASDAQ:SSICFree Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned approximately 0.20% of Silver Spike Investment as of its most recent SEC filing. 4.36% of the stock is owned by institutional investors.

About Silver Spike Investment

(Get Free Report)

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.

Further Reading

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