Van ECK Associates Corp Buys 74,983 Shares of SLR Investment Corp. $SLRC

Van ECK Associates Corp lifted its stake in shares of SLR Investment Corp. (NASDAQ:SLRC) by 6.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,195,136 shares of the financial services provider’s stock after buying an additional 74,983 shares during the quarter. Van ECK Associates Corp’s holdings in SLR Investment were worth $18,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SLRC. Acadian Asset Management LLC lifted its position in SLR Investment by 173.3% during the first quarter. Acadian Asset Management LLC now owns 16,702 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 10,591 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of SLR Investment by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 19,078 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 1,004 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SLR Investment by 58.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,519 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 21,870 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of SLR Investment by 297.2% during the second quarter. Campbell & CO Investment Adviser LLC now owns 42,259 shares of the financial services provider’s stock worth $682,000 after purchasing an additional 31,621 shares during the period. Finally, Allworth Financial LP acquired a new stake in SLR Investment during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SLRC shares. Weiss Ratings restated a “hold (c+)” rating on shares of SLR Investment in a research note on Monday, December 29th. Raymond James Financial set a $16.00 target price on SLR Investment and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Keefe, Bruyette & Woods reduced their target price on shares of SLR Investment from $17.00 to $16.50 and set a “market perform” rating for the company in a research report on Tuesday, November 18th. Wells Fargo & Company decreased their price target on shares of SLR Investment from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 3rd. Finally, Compass Point raised shares of SLR Investment from a “neutral” rating to a “buy” rating and set a $16.50 price target on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.64.

SLR Investment Stock Down 2.1%

NASDAQ:SLRC traded down $0.31 during trading hours on Friday, reaching $13.92. 83,927 shares of the company were exchanged, compared to its average volume of 293,272. The business has a 50 day moving average of $15.01 and a 200 day moving average of $15.35. SLR Investment Corp. has a 1-year low of $13.64 and a 1-year high of $17.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Tuesday, February 24th. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $54.46 million during the quarter, compared to the consensus estimate of $54.97 million. SLR Investment had a return on equity of 8.76% and a net margin of 42.34%. On average, equities research analysts anticipate that SLR Investment Corp. will post 1.76 EPS for the current year.

SLR Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.64 annualized dividend and a yield of 11.8%. SLR Investment’s dividend payout ratio is currently 96.47%.

SLR Investment Company Profile

SLR Investment Corp. (NASDAQ: SLRC) is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.