Solar Capital (NASDAQ:SLRC) Upgraded to “Sell” at BidaskClub
A number of other brokerages have also weighed in on SLRC. Raymond James initiated coverage on Solar Capital in a report on Tuesday, April 16th. They issued an outperform rating and a $22.50 price objective on the stock. Zacks Investment Research raised Garrett Motion from a sell rating to a hold rating in a report on Friday, May 10th. Finally, National Securities reaffirmed a buy rating on shares of Model N in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Solar Capital presently has an average rating of Hold and an average price target of $22.70.
SLRC stock traded up $0.04 during trading on Friday, hitting $20.88. The company had a trading volume of 64,613 shares, compared to its average volume of 77,441. The stock has a market cap of $880.72 million, a price-to-earnings ratio of 11.80, a PEG ratio of 3.90 and a beta of 0.71. Solar Capital has a 1-year low of $18.45 and a 1-year high of $22.00. The company has a 50-day simple moving average of $20.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.07.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Thursday, June 20th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date was Wednesday, June 19th. Solar Capital’s dividend payout ratio is presently 92.66%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Arlington Partners LLC purchased a new stake in shares of Solar Capital during the 2nd quarter worth approximately $38,000. PNC Financial Services Group Inc. purchased a new stake in shares of Solar Capital during the 1st quarter worth approximately $42,000. Glassman Wealth Services purchased a new stake in shares of Solar Capital during the 1st quarter worth approximately $165,000. Northern Trust Corp boosted its stake in shares of Solar Capital by 6.3% during the 4th quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 624 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of Solar Capital during the 1st quarter worth approximately $208,000. 58.10% of the stock is currently owned by institutional investors.
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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