Solar Capital Ltd. (SLRC) Shares Bought by Argent Capital Management LLC
Argent Capital Management LLC increased its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,033 shares of the financial services provider’s stock after buying an additional 2,600 shares during the period. Argent Capital Management LLC’s holdings in Solar Capital were worth $2,646,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Solar Capital during the first quarter worth about $104,000. Green Square Capital LLC increased its position in shares of Solar Capital by 1.1% in the third quarter. Green Square Capital LLC now owns 10,409 shares of the financial services provider’s stock worth $218,000 after buying an additional 110 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Solar Capital by 18.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,062 shares of the financial services provider’s stock worth $230,000 after buying an additional 1,700 shares in the last quarter. Crow Point Partners LLC acquired a new stake in Solar Capital during the third quarter worth $267,000. Finally, Horizon Investments LLC increased its stake in Solar Capital by 0.7% in the fourth quarter. Horizon Investments LLC now owns 13,343 shares of the financial services provider’s stock worth $278,000 after buying an additional 98 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Solar Capital Ltd. (NASDAQ:SLRC) traded down 0.14% during trading on Friday, hitting $21.78. 157,742 shares of the stock traded hands. Solar Capital Ltd. has a 52-week low of $18.42 and a 52-week high of $22.94. The stock has a 50 day moving average of $21.83 and a 200 day moving average of $21.73. The firm has a market cap of $920.42 million, a price-to-earnings ratio of 9.61 and a beta of 0.57.
Solar Capital (NASDAQ:SLRC) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $34.39 million for the quarter, compared to analyst estimates of $36.24 million. Solar Capital had a return on equity of 7.70% and a net margin of 62.94%. Analysts expect that Solar Capital Ltd. will post $1.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.35%. The ex-dividend date is Tuesday, June 20th. Solar Capital’s payout ratio is 70.48%.
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A number of analysts have recently weighed in on SLRC shares. Zacks Investment Research downgraded shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. National Securities reissued a “buy” rating and set a $24.00 price objective on shares of Solar Capital in a research report on Monday, May 8th. J P Morgan Chase & Co downgraded shares of Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Monday, May 1st. Finally, Ladenburg Thalmann Financial Services downgraded shares of Solar Capital from a “buy” rating to a “neutral” rating in a research report on Friday, February 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.34.
About Solar Capital
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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