Raymond James Financial Inc. Grows Stock Position in SLR Investment Corp. $SLRC

Raymond James Financial Inc. increased its position in shares of SLR Investment Corp. (NASDAQ:SLRC) by 12.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 317,325 shares of the financial services provider’s stock after buying an additional 34,813 shares during the quarter. Raymond James Financial Inc. owned about 0.58% of SLR Investment worth $5,350,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLRC. Epiq Partners LLC raised its position in shares of SLR Investment by 405.8% during the 1st quarter. Epiq Partners LLC now owns 327,560 shares of the financial services provider’s stock valued at $5,523,000 after buying an additional 262,800 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of SLR Investment by 42.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 222,340 shares of the financial services provider’s stock worth $3,749,000 after purchasing an additional 66,674 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of SLR Investment during the first quarter worth $1,031,000. Condor Capital Management grew its stake in shares of SLR Investment by 14.8% during the first quarter. Condor Capital Management now owns 332,664 shares of the financial services provider’s stock worth $5,609,000 after purchasing an additional 42,851 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of SLR Investment during the first quarter worth $637,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Price Performance

Shares of SLR Investment stock opened at $16.69 on Friday. SLR Investment Corp. has a 12-month low of $13.64 and a 12-month high of $17.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average of $16.35 and a two-hundred day moving average of $16.37.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $53.91 million during the quarter, compared to analyst estimates of $53.38 million. SLR Investment had a net margin of 39.93% and a return on equity of 9.26%. Analysts expect that SLR Investment Corp. will post 1.76 earnings per share for the current fiscal year.

SLR Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.64 dividend on an annualized basis and a yield of 9.8%. SLR Investment’s dividend payout ratio (DPR) is currently 101.23%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company restated an “underweight” rating and issued a $13.00 price objective (up previously from $12.00) on shares of SLR Investment in a research note on Tuesday, August 12th. LADENBURG THALM/SH SH raised shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a report on Monday, May 12th. JPMorgan Chase & Co. upped their target price on shares of SLR Investment from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Thursday, August 7th. Raymond James Financial reduced their target price on shares of SLR Investment from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, B. Riley began coverage on shares of SLR Investment in a report on Tuesday, May 13th. They issued a “buy” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SLR Investment has a consensus rating of “Hold” and an average price target of $16.25.

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.