Wells Fargo & Company Issues Pessimistic Forecast for SLR Investment (NASDAQ:SLRC) Stock Price

SLR Investment (NASDAQ:SLRC) had its price target cut by Wells Fargo & Company from $13.00 to $12.50 in a research report released on Tuesday, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

SLRC has been the subject of a number of other research reports. StockNews.com started coverage on SLR Investment in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. JPMorgan Chase & Co. downgraded SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, SLR Investment presently has a consensus rating of “Hold” and a consensus target price of $15.13.

SLR Investment Price Performance

Shares of NASDAQ:SLRC opened at $15.37 on Tuesday. The company has a market capitalization of $838.59 million, a P/E ratio of 8.26 and a beta of 1.13. SLR Investment has a 1-year low of $14.09 and a 1-year high of $16.77. The firm’s 50 day simple moving average is $15.33 and its two-hundred day simple moving average is $15.65. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $58.98 million for the quarter, compared to analysts’ expectations of $58.23 million. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. During the same quarter in the previous year, the company earned $0.42 EPS. Research analysts expect that SLR Investment will post 1.75 EPS for the current fiscal year.

SLR Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.67%. SLR Investment’s dividend payout ratio is currently 88.17%.

Hedge Funds Weigh In On SLR Investment

Several institutional investors have recently added to or reduced their stakes in SLRC. Hennion & Walsh Asset Management Inc. purchased a new position in shares of SLR Investment in the first quarter valued at $296,000. Van ECK Associates Corp increased its holdings in shares of SLR Investment by 8.0% in the 1st quarter. Van ECK Associates Corp now owns 918,196 shares of the financial services provider’s stock worth $14,094,000 after buying an additional 68,320 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SLR Investment by 11.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 56,531 shares of the financial services provider’s stock worth $868,000 after buying an additional 5,692 shares during the last quarter. Pullen Investment Management LLC bought a new position in shares of SLR Investment in the 1st quarter valued at about $809,000. Finally, SG Americas Securities LLC bought a new position in shares of SLR Investment in the 1st quarter valued at about $342,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

SLR Investment Company 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.