Zacks Investment Research upgraded shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
Separately, BidaskClub lowered Solar Senior Capital from a hold rating to a sell rating in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $17.17.
Shares of Solar Senior Capital (NASDAQ SUNS) traded up 0.06% on Wednesday, hitting $17.44. 17,745 shares of the stock traded hands. Solar Senior Capital has a 52-week low of $15.06 and a 52-week high of $18.46. The firm has a 50 day moving average price of $16.75 and a 200 day moving average price of $17.22.
Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Solar Senior Capital had a return on equity of 7.98% and a net margin of 76.07%. The company had revenue of $7.66 million for the quarter, compared to analyst estimates of $8.24 million. Equities research analysts predict that Solar Senior Capital will post $1.36 earnings per share for the current year.
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The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Thursday, October 19th will be paid a $0.1175 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $1.41 dividend on an annualized basis and a yield of 8.09%. Solar Senior Capital’s payout ratio is 94.63%.
A number of hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. increased its stake in Solar Senior Capital by 0.4% in the second quarter. Wedbush Securities Inc. now owns 11,122 shares of the asset manager’s stock worth $186,000 after purchasing an additional 48 shares during the period. Advisor Group Inc. increased its stake in Solar Senior Capital by 1.4% in the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after purchasing an additional 95 shares during the period. Goldman Sachs Group Inc. increased its stake in Solar Senior Capital by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock worth $308,000 after purchasing an additional 388 shares during the period. Menlo Advisors LLC increased its stake in Solar Senior Capital by 5.4% in the second quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock worth $344,000 after purchasing an additional 1,050 shares during the period. Finally, RMB Capital Management LLC increased its stake in Solar Senior Capital by 5.4% in the first quarter. RMB Capital Management LLC now owns 39,043 shares of the asset manager’s stock worth $702,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 32.84% of the company’s stock.
Solar Senior Capital Company Profile
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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