SLR Investment Corp. (NASDAQ:SLRC) Shares to Pay Quarterly Dividend of $0.31

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, December 14th will be given a dividend of $0.31 per share by the financial services provider on Monday, December 28th. This represents a $1.24 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Monday, December 14th.

SLR Investment has a payout ratio of 76.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect SLR Investment to earn $1.32 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 93.9%.

SLR Investment Stock Up 3.5%

Shares of NASDAQ:SLRC opened at $12.22 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $11.83 and a two-hundred day moving average of $13.38. The stock has a market cap of $666.50 million, a P/E ratio of 9.05 and a beta of 0.69. SLR Investment has a 52-week low of $10.96 and a 52-week high of $16.36.

SLR Investment (NASDAQ:SLRC) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. SLR Investment had a return on equity of 7.96% and a net margin of 35.20%. The business had revenue of $49.34 million during the quarter, compared to the consensus estimate of $48.93 million. On average, research analysts expect that SLR Investment will post 1.31 earnings per share for the current year.

Insider Buying and Selling at SLR Investment

In other news, insider Michael Gross bought 20,000 shares of SLR Investment stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average price of $12.35 per share, with a total value of $247,000.00. Following the completion of the acquisition, the insider directly owned 4,065,153 shares in the company, valued at $50,204,639.55. The trade was a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On SLR Investment

Several hedge funds have recently added to or reduced their stakes in SLRC. N.E.W. Advisory Services LLC acquired a new position in SLR Investment during the second quarter worth approximately $28,000. Ascentis Independent Advisors purchased a new stake in shares of SLR Investment in the first quarter valued at about $69,000. Allworth Financial LP acquired a new stake in shares of SLR Investment during the second quarter worth about $93,000. Rockefeller Capital Management L.P. lifted its position in SLR Investment by 211.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,325 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 4,292 shares during the period. Finally, Abel Hall LLC acquired a new position in shares of SLR Investment in the first quarter valued at approximately $143,000. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

About SLR Investment

SLR Investment Corp. (NASDAQ: SLRC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to support businesses that may have limited access to traditional bank financing by investing in a range of debt and equity securities.

Its investment activities generally focus on senior secured loans, subordinated debt, mezzanine investments and equity interests. SLR Investment typically partners with private equity sponsors and company management teams, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.