Citadel Advisors LLC grew its stake in Solar Capital Ltd. (NASDAQ:SLRC) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 131,509 shares of the financial services provider’s stock after purchasing an additional 3,188 shares during the period. Citadel Advisors LLC’s holdings in Solar Capital were worth $2,689,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SLRC. FDx Advisors Inc. bought a new position in Solar Capital in the 2nd quarter worth $207,000. Great West Life Assurance Co. Can bought a new position in Solar Capital in the 1st quarter worth $228,000. Texas Yale Capital Corp. bought a new position in Solar Capital in the 2nd quarter worth $276,000. TCW Group Inc. raised its holdings in Solar Capital by 86.2% in the 1st quarter. TCW Group Inc. now owns 24,200 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. bought a new position in Solar Capital in the 2nd quarter worth $991,000. Institutional investors and hedge funds own 60.65% of the company’s stock.
A number of analysts have recently weighed in on SLRC shares. National Securities reaffirmed a “buy” rating and issued a $25.00 target price on shares of Solar Capital in a research report on Friday, May 11th. BidaskClub raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. ValuEngine raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Zacks Investment Research downgraded shares of Solar Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $23.67.
NASDAQ:SLRC opened at $21.70 on Friday. The stock has a market capitalization of $919.17 million, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Solar Capital Ltd. has a 1-year low of $19.70 and a 1-year high of $22.55.
Solar Capital (NASDAQ:SLRC) last released its earnings results on Monday, August 6th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The business had revenue of $39.19 million during the quarter, compared to analysts’ expectations of $38.17 million. Solar Capital had a return on equity of 8.01% and a net margin of 48.51%. analysts forecast that Solar Capital Ltd. will post 1.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Thursday, September 20th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date is Wednesday, September 19th. Solar Capital’s dividend payout ratio is presently 101.23%.
About Solar Capital
Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.
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