Solar Capital (NASDAQ:SLRC) Downgraded to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Solar Capital (NASDAQ:SLRC) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Solar Capital from a buy rating to a hold rating in a research note on Saturday, November 2nd. TheStreet downgraded shares of Solar Capital from a b rating to a c+ rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $22.63.

NASDAQ:SLRC traded down $0.06 during trading hours on Tuesday, hitting $20.79. The company’s stock had a trading volume of 2,671 shares, compared to its average volume of 117,056. The stock has a market capitalization of $873.53 million, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 3.88 and a beta of 0.69. The stock has a fifty day moving average of $20.72 and a 200-day moving average of $20.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Solar Capital has a 52-week low of $19.72 and a 52-week high of $21.83.

Solar Capital (NASDAQ:SLRC) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. Solar Capital had a return on equity of 7.97% and a net margin of 43.03%. The firm had revenue of $39.71 million for the quarter, compared to analyst estimates of $39.33 million. On average, sell-side analysts forecast that Solar Capital will post 1.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Thursday, December 19th were paid a $0.41 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.64 annualized dividend and a yield of 7.89%. Solar Capital’s dividend payout ratio is presently 92.66%.

In other Solar Capital news, insider Guy Talarico bought 7,150 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $20.86 per share, for a total transaction of $149,149.00. Following the completion of the purchase, the insider now owns 930 shares of the company’s stock, valued at $19,399.80. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Hochberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in SLRC. Wells Fargo & Company MN increased its holdings in Solar Capital by 4.0% in the second quarter. Wells Fargo & Company MN now owns 108,209 shares of the financial services provider’s stock valued at $2,221,000 after buying an additional 4,185 shares in the last quarter. LPL Financial LLC purchased a new position in Solar Capital in the second quarter valued at about $395,000. United Capital Financial Advisers LLC increased its holdings in Solar Capital by 107.5% in the second quarter. United Capital Financial Advisers LLC now owns 137,650 shares of the financial services provider’s stock valued at $2,826,000 after buying an additional 71,325 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Solar Capital in the second quarter valued at about $41,000. Finally, Citadel Advisors LLC increased its holdings in Solar Capital by 30.8% in the second quarter. Citadel Advisors LLC now owns 65,375 shares of the financial services provider’s stock valued at $1,341,000 after buying an additional 15,382 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About Solar Capital

Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.

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