Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co increased their price target on shares of Solar Capital from $13.50 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Zacks Investment Research lowered Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, May 8th. Compass Point raised Solar Capital from a “neutral” rating to a “buy” rating in a research report on Thursday, April 2nd. ValuEngine downgraded shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Oppenheimer reissued a “buy” rating and set a $19.00 target price on shares of Solar Capital in a research note on Sunday, May 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.42.
Shares of NASDAQ SLRC opened at $16.17 on Friday. Solar Capital has a 1 year low of $7.42 and a 1 year high of $21.24. The firm has a market cap of $683.34 million, a price-to-earnings ratio of 9.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $16.29 and its 200-day simple moving average is $16.52.
A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Solar Capital by 6.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,841 shares of the financial services provider’s stock valued at $14,501,000 after buying an additional 78,884 shares in the last quarter. Partners Group Holding AG boosted its holdings in shares of Solar Capital by 9.6% in the first quarter. Partners Group Holding AG now owns 977,791 shares of the financial services provider’s stock valued at $11,381,000 after acquiring an additional 85,353 shares in the last quarter. UBS Group AG increased its stake in shares of Solar Capital by 61.9% during the second quarter. UBS Group AG now owns 627,375 shares of the financial services provider’s stock valued at $10,044,000 after acquiring an additional 239,811 shares during the period. Resource America Inc. raised its holdings in Solar Capital by 79.3% during the first quarter. Resource America Inc. now owns 514,872 shares of the financial services provider’s stock worth $5,993,000 after purchasing an additional 227,763 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Solar Capital by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 423,582 shares of the financial services provider’s stock worth $6,782,000 after purchasing an additional 14,555 shares in the last quarter. 57.58% of the stock is owned by institutional investors and hedge funds.
About Solar Capital
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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