Solar Senior Capital (NASDAQ:SUNS) Receives Buy Rating from Maxim Group

Solar Senior Capital (NASDAQ:SUNS)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $18.50 price objective on the asset manager’s stock. Maxim Group’s target price would suggest a potential upside of 10.05% from the company’s previous close.

The analysts wrote, “2Q19 net investment income (NII) of $0.35/share matched SUNS’ $0.35 dividend, with help from the waiver of $0.06 of management and incentive fees. NAV per share was stable (down 0.4%). Our price target of $18.50 equates to 1.13x NAV (same as previously), inline with best-in-class BDCs. SUNS is our top BDC pick, especially for retail investors, based on its track record and its credit risk profile.””

Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Solar Senior Capital from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. BidaskClub upgraded Solar Senior Capital from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd.

SUNS stock traded down $0.04 during midday trading on Thursday, reaching $16.81. 9,200 shares of the company were exchanged, compared to its average volume of 35,076. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.54 and a quick ratio of 0.07. The stock’s 50-day simple moving average is $16.38. Solar Senior Capital has a one year low of $14.50 and a one year high of $17.56. The firm has a market capitalization of $270.04 million, a price-to-earnings ratio of 11.92 and a beta of 0.58.

Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings data on Monday, August 5th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $10.76 million. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. On average, research analysts expect that Solar Senior Capital will post 1.38 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP raised its stake in Solar Senior Capital by 11.4% during the fourth quarter. Two Sigma Advisers LP now owns 47,522 shares of the asset manager’s stock valued at $719,000 after buying an additional 4,878 shares during the last quarter. Confluence Investment Management LLC boosted its position in Solar Senior Capital by 2.0% during the first quarter. Confluence Investment Management LLC now owns 67,877 shares of the asset manager’s stock worth $1,165,000 after purchasing an additional 1,336 shares during the period. Advisor Group Inc. boosted its position in Solar Senior Capital by 276.7% during the fourth quarter. Advisor Group Inc. now owns 2,501 shares of the asset manager’s stock worth $37,000 after purchasing an additional 1,837 shares during the period. Glassman Wealth Services bought a new position in Solar Senior Capital during the first quarter worth $167,000. Finally, Marshall Wace LLP bought a new position in Solar Senior Capital during the first quarter worth $42,000. Institutional investors and hedge funds own 19.36% of the company’s stock.

About Solar Senior Capital

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.

See Also: Do back-end load funds outperform no-load funds?

Receive News & Ratings for Solar Senior Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Senior Capital and related companies with MarketBeat.com's FREE daily email newsletter.