Legal & General Group Plc Sells 33,833 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Legal & General Group Plc lowered its position in SLR Investment Corp. (NASDAQ:SLRC) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 361,151 shares of the financial services provider’s stock after selling 33,833 shares during the quarter. Legal & General Group Plc owned about 0.66% of SLR Investment worth $5,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC raised its position in shares of SLR Investment by 71.3% in the fourth quarter. Westend Capital Management LLC now owns 7,406 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 3,082 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of SLR Investment by 39.8% in the fourth quarter. Wells Fargo & Company MN now owns 12,480 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 3,551 shares during the period. Envestnet Asset Management Inc. grew its position in shares of SLR Investment by 11.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,090 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 1,432 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of SLR Investment during the 4th quarter valued at $243,000. Finally, Jane Street Group LLC lifted its holdings in SLR Investment by 15.0% during the 3rd quarter. Jane Street Group LLC now owns 15,541 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 2,022 shares in the last quarter. 35.32% of the stock is currently owned by institutional investors.

SLR Investment Stock Performance

SLR Investment stock opened at $15.50 on Monday. SLR Investment Corp. has a twelve month low of $13.64 and a twelve month high of $17.94. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average is $16.66 and its 200 day moving average is $16.34. The company has a market capitalization of $845.68 million, a P/E ratio of 8.76 and a beta of 0.90.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $55.58 million for the quarter, compared to the consensus estimate of $57.08 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. On average, equities research analysts predict that SLR Investment Corp. will post 1.76 earnings per share for the current fiscal year.

SLR Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.58%. The ex-dividend date of this dividend was Friday, March 14th. SLR Investment’s dividend payout ratio is presently 93.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLRC. Keefe, Bruyette & Woods upped their price target on SLR Investment from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, March 4th. Compass Point raised their price target on shares of SLR Investment from $16.50 to $17.25 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.85.

SLR Investment Company 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.