Silver Spike Investment (NASDAQ:SSIC) Announces Earnings Results, Hits Estimates

Silver Spike Investment (NASDAQ:SSIC) announced its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28, Yahoo Finance reports. The firm had revenue of $3.66 million for the quarter, compared to analysts’ expectations of $3.38 million. Silver Spike Investment had a return on equity of 7.47% and a net margin of 61.51%.

Silver Spike Investment Stock Down 2.5 %

Shares of NASDAQ SSIC opened at $9.61 on Friday. The stock has a market capitalization of $59.73 million, a P/E ratio of 8.21 and a beta of 0.42. The firm’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $9.13. Silver Spike Investment has a 52-week low of $7.29 and a 52-week high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.41%. The ex-dividend date of this dividend was Tuesday, March 19th. Silver Spike Investment’s dividend payout ratio (DPR) is presently 85.47%.

Institutional Trading of Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC purchased a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned 1.81% of Silver Spike Investment as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 4.36% of the company’s stock.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.