Solar Senior Capital Ltd. (SUNS) Position Held by Freestone Capital Holdings LLC
Freestone Capital Holdings LLC continued to hold its stake in shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,824 shares of the asset manager’s stock at the close of the second quarter. Freestone Capital Holdings LLC’s holdings in Solar Senior Capital were worth $483,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Muzinich & Co. Inc. raised 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. raised its stake in shares of Solar Senior Capital by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 455,914 shares of the asset manager’s stock worth $7,632,000 after buying an additional 7,931 shares during the period. Acadian Asset Management LLC raised its stake in shares of Solar Senior Capital by 46.6% in the second quarter. Acadian Asset Management LLC now owns 399,623 shares of the asset manager’s stock worth $6,691,000 after buying an additional 126,982 shares during the period. UBS Group AG raised its stake in shares of Solar Senior Capital by 21.4% in the first quarter. UBS Group AG now owns 396,851 shares of the asset manager’s stock worth $7,135,000 after buying an additional 70,058 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Solar Senior Capital by 4.0% in the second quarter. Advisors Asset Management Inc. now owns 365,470 shares of the asset manager’s stock worth $6,118,000 after buying an additional 13,940 shares during the period. 32.84% of the stock is currently owned by institutional investors and hedge funds.
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Several research analysts have recently commented on SUNS shares. BidaskClub downgraded Solar Senior Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Solar Senior Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Solar Senior Capital currently has a consensus rating of “Hold” and a consensus target price of $17.88.
Solar Senior Capital Ltd. (NASDAQ SUNS) opened at 16.20 on Friday. Solar Senior Capital Ltd. has a 1-year low of $15.06 and a 1-year high of $18.46. The stock has a 50 day moving average price of $16.78 and a 200 day moving average price of $17.32.
Solar Senior Capital (NASDAQ:SUNS) last issued its earnings results on Tuesday, August 1st. The asset manager reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Solar Senior Capital had a return on equity of 7.98% and a net margin of 76.07%. The firm had revenue of $7.66 million for the quarter, compared to the consensus estimate of $8.24 million. Analysts predict that Solar Senior Capital Ltd. will post $1.35 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.117 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.67%. Solar Senior Capital’s payout ratio is 94.63%.
Solar Senior Capital Company Profile
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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