Solar Capital Ltd. (NASDAQ:SLRC) Director David Wachter purchased 20,000 shares of the stock in a transaction on Friday, March 20th. The stock was acquired at an average cost of $10.59 per share, for a total transaction of $211,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NASDAQ SLRC opened at $10.62 on Thursday. The stock’s 50-day simple moving average is $17.51 and its two-hundred day simple moving average is $19.84. Solar Capital Ltd. has a twelve month low of $7.42 and a twelve month high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $349.91 million, a price-to-earnings ratio of 8.05 and a beta of 0.73.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). Solar Capital had a return on equity of 7.86% and a net margin of 36.21%. The firm had revenue of $37.06 million for the quarter, compared to the consensus estimate of $38.98 million. On average, equities analysts expect that Solar Capital Ltd. will post 1.71 earnings per share for the current fiscal year.
Several research analysts have recently commented on SLRC shares. JPMorgan Chase & Co. cut their price objective on Solar Capital from $22.50 to $21.50 and set an “overweight” rating for the company in a report on Monday, February 24th. Compass Point downgraded shares of Solar Capital from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.50 to $21.50 in a research note on Friday, February 21st. Wells Fargo & Co raised shares of Solar Capital from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 19th. Finally, Deutsche Bank cut their price target on shares of Solar Capital from $24.00 to $23.50 and set a “buy” rating for the company in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Solar Capital in the 4th quarter worth approximately $343,000. Kennedy Capital Management Inc. grew its position in Solar Capital by 98.1% during the fourth quarter. Kennedy Capital Management Inc. now owns 297,651 shares of the financial services provider’s stock valued at $6,138,000 after acquiring an additional 147,414 shares during the last quarter. CA Family Wealth LLC bought a new position in Solar Capital during the fourth quarter valued at approximately $223,000. 1832 Asset Management L.P. grew its position in Solar Capital by 2.0% during the fourth quarter. 1832 Asset Management L.P. now owns 520,335 shares of the financial services provider’s stock valued at $10,821,000 after acquiring an additional 10,394 shares during the last quarter. Finally, Partners Group Holding AG raised its stake in shares of Solar Capital by 19.3% during the fourth quarter. Partners Group Holding AG now owns 892,438 shares of the financial services provider’s stock worth $18,402,000 after acquiring an additional 144,301 shares in the last quarter. 59.13% of the stock is currently owned by institutional investors.
Solar Capital Company Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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