Advisors Asset Management Inc. Acquires 20,451 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Advisors Asset Management Inc. boosted its holdings in SLR Investment Corp. (NASDAQ:SLRC) by 130.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,113 shares of the financial services provider’s stock after acquiring an additional 20,451 shares during the quarter. Advisors Asset Management Inc. owned 0.07% of SLR Investment worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLRC. International Assets Investment Management LLC purchased a new position in shares of SLR Investment in the 2nd quarter worth about $35,000. EverSource Wealth Advisors LLC purchased a new position in shares of SLR Investment in the 2nd quarter worth about $47,000. Creative Planning purchased a new position in shares of SLR Investment in the 3rd quarter worth about $170,000. MQS Management LLC purchased a new position in shares of SLR Investment in the 3rd quarter worth about $197,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of SLR Investment in the 2nd quarter worth about $210,000. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price objective on SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, SLR Investment presently has an average rating of “Hold” and a consensus target price of $15.25.

SLR Investment Trading Up 0.4 %

Shares of SLRC stock opened at $16.61 on Thursday. The stock has a market capitalization of $906.24 million, a PE ratio of 9.35 and a beta of 1.12. SLR Investment Corp. has a 1-year low of $14.41 and a 1-year high of $16.77. The business has a 50-day moving average of $15.47 and a 200 day moving average of $15.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 1.06.

SLR Investment (NASDAQ:SLRC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $59.77 million during the quarter, compared to analysts’ expectations of $58.48 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. During the same period in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts anticipate that SLR Investment Corp. will post 1.76 earnings per share for the current year.

SLR Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date of this dividend is Friday, December 13th. SLR Investment’s payout ratio is 92.66%.

SLR Investment 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.