Wells Fargo & Company Boosts SLR Investment (NASDAQ:SLRC) Price Target to $13.00

SLR Investment (NASDAQ:SLRC) had its price target upped by Wells Fargo & Company from $12.50 to $13.00 in a report released on Friday, Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

SLRC has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their price objective 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. StockNews.com began coverage on SLR Investment in a research report on Tuesday, July 23rd. They issued a hold rating on the stock. Finally, B. Riley reaffirmed a neutral rating and set a $17.00 price objective (up from $16.00) on shares of SLR Investment in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, SLR Investment has a consensus rating of Hold and an average target price of $15.25.

SLR Investment Stock Down 1.1 %

SLR Investment stock opened at $15.74 on Friday. The company has a market capitalization of $858.77 million, a P/E ratio of 8.84 and a beta of 1.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.05 and a current ratio of 1.05. SLR Investment has a fifty-two week low of $13.93 and a fifty-two week high of $16.77. The stock has a 50-day simple moving average of $16.16 and a 200-day simple moving average of $15.57.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.44 earnings per share for the quarter, meeting 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%. Equities research analysts expect that SLR Investment will post 1.74 earnings per share for the current year.

SLR Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.64 dividend on an annualized basis and a yield of 10.42%. SLR Investment’s payout ratio is currently 92.13%.

Insider Buying and Selling at SLR Investment

In other SLR Investment news, President Robyn Tannenbaum purchased 3,000 shares of SLR Investment stock in a transaction dated Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, with a total value of $33,150.00. Following the acquisition, the president now directly owns 24,959 shares of the company’s stock, valued at $275,796.95. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Andrea Colvin Roberts bought 25,000 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $15.98 per share, for a total transaction of $399,500.00. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $399,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Robyn Tannenbaum bought 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was bought at an average cost of $11.05 per share, with a total value of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares of the company’s stock, valued at approximately $275,796.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 95,584 shares of company stock valued at $1,255,125. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SLR Investment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates boosted its position in SLR Investment by 41.0% during the fourth quarter. Raymond James & Associates now owns 112,343 shares of the financial services provider’s stock worth $1,689,000 after purchasing an additional 32,647 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of SLR Investment by 22.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,748 shares of the financial services provider’s stock worth $252,000 after buying an additional 3,081 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of SLR Investment by 1,693.5% in the 4th quarter. International Assets Investment Management LLC now owns 32,480 shares of the financial services provider’s stock worth $488,000 after buying an additional 30,669 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in SLR Investment in the 4th quarter valued at about $1,780,000. Finally, Truist Financial Corp purchased a new position in SLR Investment during the 4th quarter valued at about $310,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

About SLR Investment

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.