According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “
Several other equities research analysts have also weighed in on SUNS. BidaskClub lowered Solar Senior Capital from a strong-buy rating to a buy rating in a report on Thursday. Maxim Group restated a buy rating and issued a $18.50 target price on shares of Solar Senior Capital in a report on Thursday, August 8th.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Monday, August 5th. The asset manager reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $10.76 million. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. As a group, analysts expect that Solar Senior Capital will post 1.38 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 17th will be issued a $0.117 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $1.40 annualized dividend and a yield of 8.14%. Solar Senior Capital’s dividend payout ratio (DPR) is currently 100.00%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC acquired a new stake in Solar Senior Capital in the 2nd quarter worth approximately $32,000. Marshall Wace LLP acquired a new stake in Solar Senior Capital in the 1st quarter worth approximately $42,000. Advisor Group Inc. lifted its holdings in Solar Senior Capital by 48.4% in the 2nd quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock worth $146,000 after purchasing an additional 3,006 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Solar Senior Capital by 7.0% in the 2nd quarter. Acadian Asset Management LLC now owns 131,779 shares of the asset manager’s stock worth $2,094,000 after purchasing an additional 8,631 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Solar Senior Capital by 75.3% in the 2nd quarter. Wells Fargo & Company MN now owns 20,447 shares of the asset manager’s stock worth $326,000 after purchasing an additional 8,782 shares during the last quarter. Hedge funds and other institutional investors own 20.04% of the company’s stock.
About Solar Senior Capital
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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