Van ECK Associates Corp Purchases 68,320 Shares of SLR Investment Corp. (NASDAQ:SLRC)

Van ECK Associates Corp boosted its position in shares of SLR Investment Corp. (NASDAQ:SLRC) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 918,196 shares of the financial services provider’s stock after purchasing an additional 68,320 shares during the period. Van ECK Associates Corp’s holdings in SLR Investment were worth $14,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new position in SLR Investment during the 1st quarter worth $2,821,000. Truist Financial Corp bought a new stake in shares of SLR Investment in the fourth quarter valued at about $310,000. Raymond James & Associates grew its holdings in SLR Investment by 41.0% during the 4th quarter. Raymond James & Associates now owns 112,343 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 32,647 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in SLR Investment by 6.5% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 80,400 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 4,875 shares during the period. Finally, Natixis Advisors L.P. raised its stake in shares of SLR Investment by 7.1% during the 4th quarter. Natixis Advisors L.P. now owns 17,418 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 1,154 shares in the last quarter. 35.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLR Investment

In other SLR Investment news, Director Andrea Colvin Roberts bought 25,000 shares of SLR Investment stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $15.98 per share, with a total value of $399,500.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $399,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.20% of the company’s stock.

SLR Investment Price Performance

NASDAQ:SLRC remained flat at $16.12 during trading hours on Friday. 41,498 shares of the company’s stock traded hands, compared to its average volume of 168,241. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.05 and a quick ratio of 1.05. SLR Investment Corp. has a 12 month low of $13.93 and a 12 month high of $16.77. The stock has a market cap of $879.51 million, a PE ratio of 9.06 and a beta of 1.13. The company’s 50-day moving average is $16.08 and its 200 day moving average is $15.46.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $58.96 million. SLR Investment had a return on equity of 9.51% and a net margin of 41.66%. On average, equities analysts predict that SLR Investment Corp. will post 1.74 earnings per share for the current year.

SLR Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date was Thursday, June 13th. SLR Investment’s dividend payout ratio is presently 92.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of SLR Investment from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. B. Riley reissued a “neutral” rating and issued a $17.00 price objective (up previously from $16.00) on shares of SLR Investment in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.88.

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.