Solar Senior Capital (NASDAQ:SUNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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. “
Other equities research analysts have also recently issued reports about the company. Maxim Group reiterated a “buy” rating and issued a $18.50 target price on shares of Solar Senior Capital in a report on Tuesday, August 7th. BidaskClub upgraded Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Friday, October 12th.
Shares of SUNS stock opened at $16.51 on Friday. Solar Senior Capital has a twelve month low of $15.71 and a twelve month high of $18.40. The firm has a market capitalization of $263.87 million, a price-to-earnings ratio of 11.71 and a beta of 0.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.11 and a quick ratio of 0.27.
Solar Senior Capital (NASDAQ:SUNS) last issued its earnings results on Monday, November 5th. The asset manager reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Solar Senior Capital had a return on equity of 8.41% and a net margin of 58.33%. The business had revenue of $11.01 million during the quarter, compared to analysts’ expectations of $10.10 million. As a group, equities analysts forecast that Solar Senior Capital will post 1.4 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Solar Senior Capital by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 811,612 shares of the asset manager’s stock worth $13,562,000 after acquiring an additional 36,287 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Solar Senior Capital in the 3rd quarter worth $105,000. Nisa Investment Advisors LLC raised its position in shares of Solar Senior Capital by 68.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the asset manager’s stock worth $211,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Solar Senior Capital by 16.2% in the 1st quarter. Wells Fargo & Company MN now owns 78,886 shares of the asset manager’s stock worth $1,325,000 after acquiring an additional 10,997 shares in the last quarter. 23.13% of the stock is owned by hedge funds and other institutional investors.
Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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