SLR Investment Corp. Announces Quarterly Dividend of $0.41 (NASDAQ:SLRC)

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.41 per share by the financial services provider on Friday, September 27th. This represents a $1.64 annualized dividend and a dividend yield of 10.49%. The ex-dividend date is Friday, September 13th.

SLR Investment has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.

SLR Investment Price Performance

NASDAQ SLRC opened at $15.64 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.16. The company has a market cap of $853.24 million, a PE ratio of 8.79 and a beta of 1.13. SLR Investment has a 52 week low of $13.93 and a 52 week high of $16.77. The firm’s 50-day simple moving average is $15.66 and its two-hundred day simple moving average is $15.65.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $58.98 million during the quarter, compared to the consensus estimate of $58.23 million. SLR Investment had a net margin of 42.99% and a return on equity of 9.65%. During the same period last year, the firm earned $0.42 EPS. Research analysts predict that SLR Investment will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, President Robyn Tannenbaum bought 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the transaction, the president now directly owns 24,959 shares in the company, valued at approximately $275,796.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Robyn Tannenbaum purchased 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was purchased at an average price of $11.05 per share, with a total value of $33,150.00. Following the completion of the purchase, the president now directly owns 24,959 shares in the company, valued at approximately $275,796.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Leonard M. Tannenbaum acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average price of $8.73 per share, with a total value of $87,300.00. Following the completion of the acquisition, the chairman now directly owns 1,270,763 shares in the company, valued at approximately $11,093,760.99. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 95,584 shares of company stock worth $1,255,125. Insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SLRC shares. Keefe, Bruyette & Woods boosted their price objective on SLR Investment from $15.50 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Wells Fargo & Company increased their price target on shares of SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $15.50 to $15.00 in a research note on Monday, July 29th. Finally, StockNews.com assumed coverage on shares of SLR Investment in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.25.

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.