Virtus ETF Advisers LLC Takes Position in Stellus Capital Investment Corp (NYSE:SCM)
Virtus ETF Advisers LLC bought a new stake in Stellus Capital Investment Corp (NYSE:SCM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 251,677 shares of the investment management company’s stock, valued at approximately $3,481,000. Stellus Capital Investment accounts for about 0.7% of Virtus ETF Advisers LLC’s investment portfolio, making the stock its 15th biggest holding. Virtus ETF Advisers LLC owned approximately 1.33% of Stellus Capital Investment as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Gables Capital Management Inc. grew its stake in Stellus Capital Investment by 1.6% in the 2nd quarter. Gables Capital Management Inc. now owns 130,098 shares of the investment management company’s stock valued at $1,799,000 after buying an additional 2,033 shares during the last quarter. Raymond James & Associates grew its stake in Stellus Capital Investment by 88.5% in the 1st quarter. Raymond James & Associates now owns 182,641 shares of the investment management company’s stock valued at $2,584,000 after buying an additional 85,763 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in Stellus Capital Investment in the 1st quarter valued at about $42,000. NEXT Financial Group Inc acquired a new position in Stellus Capital Investment in the 2nd quarter valued at about $41,000. Finally, Acadian Asset Management LLC grew its stake in Stellus Capital Investment by 205.0% in the 2nd quarter. Acadian Asset Management LLC now owns 95,540 shares of the investment management company’s stock valued at $1,321,000 after buying an additional 64,217 shares during the last quarter. 18.00% of the stock is currently owned by institutional investors.
SCM has been the topic of a number of research reports. TheStreet upgraded shares of Stellus Capital Investment from a “c+” rating to a “b” rating in a research note on Wednesday, June 5th. CIBC reiterated a “market perform” rating on shares of Stellus Capital Investment in a research note on Monday, August 12th. Oppenheimer lowered shares of Stellus Capital Investment from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research lowered shares of Stellus Capital Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Stellus Capital Investment presently has an average rating of “Hold” and an average target price of $15.00.
Stellus Capital Investment (NYSE:SCM) last announced its earnings results on Friday, August 9th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Stellus Capital Investment had a return on equity of 9.79% and a net margin of 47.43%. The business had revenue of $14.17 million for the quarter, compared to analyst estimates of $14.16 million. As a group, equities research analysts forecast that Stellus Capital Investment Corp will post 1.26 EPS for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.113 per share. The ex-dividend date is Friday, September 27th. Stellus Capital Investment’s payout ratio is presently 95.77%.
About Stellus Capital Investment
Stellus Capital Investment Corporation is a business development company specializing in investments in private middle-market companies. It invests through first lien, second lien, unitranche, and mezzanine debt financing, often with a corresponding equity investment. The fund seeks to invest in companies with an EBITDA between $5 million and $50 million.
Further Reading: Purposes and Functions of the Federal Reserve
Want to see what other hedge funds are holding SCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stellus Capital Investment Corp (NYSE:SCM).
Receive News & Ratings for Stellus Capital Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stellus Capital Investment and related companies with MarketBeat.com's FREE daily email newsletter.