Solar Senior Capital Ltd. (SUNS) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “
Separately, BidaskClub raised shares of Solar Senior Capital from a hold rating to a buy rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Solar Senior Capital has a consensus rating of Hold and an average price target of $17.17.
Solar Senior Capital (NASDAQ:SUNS) opened at 17.60 on Wednesday. The firm’s 50 day moving average is $16.83 and its 200 day moving average is $17.22. 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 released its earnings results on Tuesday, August 1st. The asset manager reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $8.24 million. Solar Senior Capital had a net margin of 76.07% and a return on equity of 7.98%. On average, analysts anticipate that Solar Senior Capital will post $1.36 earnings per share for the current year.
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The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 1st. Investors of record on Thursday, October 19th will be paid a dividend of $0.1175 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $1.41 annualized dividend and a yield of 8.01%. Solar Senior Capital’s dividend payout ratio is presently 94.63%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. grew its stake in Solar Senior Capital by 0.4% during the 2nd quarter. Wedbush Securities Inc. now owns 11,122 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 48 shares in the last quarter. Advisor Group Inc. grew its stake in Solar Senior Capital by 1.4% during the 2nd quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 95 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Solar Senior Capital by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock valued at $308,000 after acquiring an additional 388 shares in the last quarter. Menlo Advisors LLC grew its stake in Solar Senior Capital by 5.4% during the 2nd quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock valued at $344,000 after acquiring an additional 1,050 shares in the last quarter. Finally, RMB Capital Management LLC grew its stake in Solar Senior Capital by 5.4% during the 1st quarter. RMB Capital Management LLC now owns 39,043 shares of the asset manager’s stock valued at $702,000 after acquiring an additional 2,000 shares in the last quarter. 32.84% of the stock is owned by institutional investors.
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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