Ladenburg Thalmann Financial Services Inc. raised its position in Solar Capital Ltd. (NASDAQ:SLRC) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,863 shares of the financial services provider’s stock after acquiring an additional 656 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Solar Capital were worth $777,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Arlington Partners LLC acquired a new stake in Solar Capital in the second quarter valued at $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Solar Capital in the second quarter valued at about $41,000. Centaurus Financial Inc. raised its position in shares of Solar Capital by 4,820.7% in the second quarter. Centaurus Financial Inc. now owns 5,462 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 5,351 shares during the period. Advisor Group Inc. raised its position in shares of Solar Capital by 26.2% in the second quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 1,772 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Solar Capital in the second quarter valued at about $209,000. Hedge funds and other institutional investors own 57.86% of the company’s stock.
Several brokerages have recently weighed in on SLRC. Zacks Investment Research lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. BidaskClub lowered shares of Solar Capital from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $22.70.
Shares of SLRC opened at $20.08 on Friday. The firm has a market capitalization of $847.75 million, a PE ratio of 11.34, a PEG ratio of 3.81 and a beta of 0.69. The company’s 50-day moving average is $20.52 and its 200-day moving average is $20.78. Solar Capital Ltd. has a fifty-two week low of $18.45 and a fifty-two week high of $21.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.96 and a quick ratio of 0.96.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $38.68 million for the quarter, compared to analyst estimates of $40.38 million. Solar Capital had a net margin of 46.63% and a return on equity of 7.97%. Analysts predict that Solar Capital Ltd. will post 1.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Thursday, September 19th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 8.17%. The ex-dividend date of this dividend was Wednesday, September 18th. Solar Capital’s payout ratio is presently 92.66%.
Solar Capital Company Profile
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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