TCW Group Inc. cut its holdings in shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) by 50.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,900 shares of the asset manager’s stock after selling 17,000 shares during the period. TCW Group Inc. owned approximately 0.11% of Solar Senior Capital worth $291,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Cetera Investment Advisers bought a new stake in shares of Solar Senior Capital during the second quarter worth about $241,000. Intrinsic Edge Capital Management LLC bought a new stake in shares of Solar Senior Capital during the second quarter worth about $837,000. Muzinich & Co. Inc. increased its position in shares of Solar Senior Capital by 1.5% during the second quarter. Muzinich & Co. Inc. now owns 573,781 shares of the asset manager’s stock worth $9,605,000 after acquiring an additional 8,242 shares in the last quarter. Advisor Group Inc. increased its position in shares of Solar Senior Capital by 1.4% during the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after acquiring an additional 95 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Solar Senior Capital during the second quarter worth about $493,000. 30.21% of the stock is owned by institutional investors.
Several research firms have recently commented on SUNS. BidaskClub downgraded shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Solar Senior Capital has an average rating of “Hold” and a consensus target price of $17.75.
Solar Senior Capital Ltd. (NASDAQ SUNS) opened at $18.02 on Friday. Solar Senior Capital Ltd. has a twelve month low of $15.89 and a twelve month high of $18.46. The firm has a market cap of $288.95, a PE ratio of 12.87, a P/E/G ratio of 2.56 and a beta of 0.63.
Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Solar Senior Capital had a net margin of 76.43% and a return on equity of 8.39%. The business had revenue of $7.97 million for the quarter, compared to analysts’ expectations of $7.82 million. analysts forecast that Solar Senior Capital Ltd. will post 1.41 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend is Tuesday, November 21st. Solar Senior Capital’s dividend payout ratio (DPR) is presently 97.92%.
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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