Shelton Capital Management raised its stake in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 54.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,169 shares of the financial services provider’s stock after buying an additional 25,000 shares during the quarter. Shelton Capital Management owned about 0.17% of Solar Capital worth $1,540,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Muzinich & Co. Inc. grew its position in shares of Solar Capital by 20.7% during the 2nd quarter. Muzinich & Co. Inc. now owns 1,888,476 shares of the financial services provider’s stock worth $41,301,000 after buying an additional 323,733 shares during the period. JPMorgan Chase & Co. grew its position in shares of Solar Capital by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 520,778 shares of the financial services provider’s stock valued at $11,259,000 after purchasing an additional 15,314 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Solar Capital by 7.4% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 434,100 shares of the financial services provider’s stock valued at $9,393,000 after purchasing an additional 29,985 shares during the period. Eagle Boston Investment Management Inc. grew its position in shares of Solar Capital by 20.0% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 426,322 shares of the financial services provider’s stock valued at $9,191,000 after purchasing an additional 71,041 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Solar Capital by 11.9% in the 2nd quarter. Van ECK Associates Corp now owns 252,996 shares of the financial services provider’s stock valued at $5,533,000 after purchasing an additional 26,844 shares during the period. Institutional investors own 63.08% of the company’s stock.
Solar Capital Ltd. (SLRC) opened at $20.37 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 1.01. Solar Capital Ltd. has a 12-month low of $20.17 and a 12-month high of $22.94. The stock has a market capitalization of $863.81, a P/E ratio of 12.77, a P/E/G ratio of 2.55 and a beta of 0.54.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. The business had revenue of $36.15 million during the quarter, compared to analyst estimates of $35.95 million. research analysts anticipate that Solar Capital Ltd. will post 1.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 22nd will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, March 21st. This represents a $1.64 dividend on an annualized basis and a yield of 8.05%. This is an increase from Solar Capital’s previous quarterly dividend of $0.40. Solar Capital’s dividend payout ratio is 95.24%.
SLRC has been the subject of several research analyst reports. National Securities boosted their price objective on Solar Capital from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research upgraded Solar Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Ladenburg Thalmann Financial Services upgraded Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Finally, BidaskClub lowered Solar Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Solar Capital has a consensus rating of “Hold” and an average target price of $23.35.
Solar Capital Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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