Zacks Investment Research Downgrades Solar Senior Capital (NASDAQ:SUNS) to Sell

Solar Senior Capital (NASDAQ:SUNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, May 11th.

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. “

Several other research analysts have also weighed in on SUNS. BidaskClub upgraded shares of Solar Senior Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, March 2nd. ValuEngine lowered shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd.

NASDAQ SUNS opened at $17.06 on Friday. The stock has a market capitalization of $271.57 million, a price-to-earnings ratio of 12.09, a PEG ratio of 2.41 and a beta of 0.59. Solar Senior Capital has a 52 week low of $17.10 and a 52 week high of $17.14.

Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, February 22nd. The asset manager reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $9.05 million during the quarter, compared to analyst estimates of $8.74 million. Solar Senior Capital had a net margin of 67.60% and a return on equity of 8.38%. sell-side analysts forecast that Solar Senior Capital will post 1.4 earnings per share for the current year.

In other Solar Senior Capital news, insider Bruce J. Spohler acquired 11,254 shares of Solar Senior Capital stock in a transaction dated Friday, March 2nd. The stock was bought at an average cost of $16.85 per share, with a total value of $189,629.90. Following the acquisition, the insider now owns 4,000 shares of the company’s stock, valued at $67,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce J. Spohler bought 5,113 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average price of $16.74 per share, with a total value of $85,591.62. Following the transaction, the insider now directly owns 4,000 shares in the company, valued at $66,960. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Solar Senior Capital by 19.2% during the 1st quarter. JPMorgan Chase & Co. now owns 651,211 shares of the asset manager’s stock worth $10,941,000 after purchasing an additional 105,056 shares in the last quarter. West Family Investments Inc. increased its position in Solar Senior Capital by 0.9% in the 4th quarter. West Family Investments Inc. now owns 500,309 shares of the asset manager’s stock valued at $8,886,000 after acquiring an additional 4,700 shares in the last quarter. Guggenheim Capital LLC increased its position in Solar Senior Capital by 9.4% in the 4th quarter. Guggenheim Capital LLC now owns 328,788 shares of the asset manager’s stock valued at $5,839,000 after acquiring an additional 28,294 shares in the last quarter. BlackRock Inc. increased its position in Solar Senior Capital by 11.9% in the 4th quarter. BlackRock Inc. now owns 103,232 shares of the asset manager’s stock valued at $1,833,000 after acquiring an additional 10,982 shares in the last quarter. Finally, Resource America Inc. increased its position in Solar Senior Capital by 80.9% in the 1st quarter. Resource America Inc. now owns 83,094 shares of the asset manager’s stock valued at $1,396,000 after acquiring an additional 37,148 shares in the last quarter. Institutional investors and hedge funds own 27.68% of the company’s stock.

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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