BidaskClub Upgrades Solar Senior Capital Ltd. (SUNS) to Buy
BidaskClub upgraded shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) from a hold rating to a buy rating in a research report report published on Wednesday, July 12th.
Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Solar Senior Capital from a sell rating to a hold rating in a research note on Wednesday, July 5th. Maxim Group reiterated a buy rating and issued a $18.50 target price on shares of Solar Senior Capital in a research note on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $17.88.
Shares of Solar Senior Capital (SUNS) opened at 17.39 on Wednesday. The company’s 50-day moving average price is $17.07 and its 200-day moving average price is $17.36. Solar Senior Capital has a 12-month low of $15.06 and a 12-month high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Solar Senior Capital had a net margin of 76.74% and a return on equity of 7.95%. The business had revenue of $7.50 million for the quarter, compared to analyst estimates of $7.96 million. On average, equities research analysts predict that Solar Senior Capital will post $1.40 EPS for the current year.
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The business also recently disclosed a monthly dividend, which will be paid on Tuesday, August 1st. Investors of record on Thursday, July 20th will be given a dividend of $0.117 per share. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $1.40 dividend on an annualized basis and a yield of 8.07%. Solar Senior Capital’s dividend payout ratio (DPR) is 89.81%.
Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Solar Senior Capital by 12.5% in the first quarter. Wellington Management Group LLP now owns 160,272 shares of the asset manager’s stock worth $2,882,000 after buying an additional 17,840 shares in the last quarter. AXA acquired a new stake in shares of Solar Senior Capital during the first quarter worth approximately $728,000. Muzinich & Co. Inc. boosted its stake in shares of Solar Senior Capital by 122.9% in the first quarter. Muzinich & Co. Inc. now owns 565,539 shares of the asset manager’s stock worth $10,168,000 after buying an additional 311,852 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Solar Senior Capital by 10.0% in the first quarter. JPMorgan Chase & Co. now owns 447,983 shares of the asset manager’s stock worth $8,055,000 after buying an additional 40,612 shares during the period. Finally, Oxford Asset Management purchased a new stake in shares of Solar Senior Capital during the first quarter worth about $742,000. 31.72% of the stock is owned by institutional investors and hedge funds.
About Solar Senior Capital
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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