Solar Senior Capital (SUNS) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.

Separately, Zacks Investment Research upgraded shares of Solar Senior Capital from a sell rating to a hold rating in a research note on Wednesday, October 11th.

Shares of Solar Senior Capital (SUNS) opened at $17.94 on Wednesday. Solar Senior Capital has a 12-month low of $16.10 and a 12-month high of $18.46. The stock has a market cap of $288.31, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.64.

Solar Senior Capital (NASDAQ:SUNS) last released its earnings results on Thursday, November 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.82 million. sell-side analysts expect that Solar Senior Capital will post 1.41 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Thursday, January 18th will be paid a dividend of $0.1175 per share. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12. The ex-dividend date is Wednesday, January 17th. This represents a $1.41 annualized dividend and a dividend yield of 7.86%. Solar Senior Capital’s dividend payout ratio is 97.92%.

Several institutional investors and hedge funds have recently made changes to their positions in SUNS. JPMorgan Chase & Co. increased its stake in shares of Solar Senior Capital by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 455,914 shares of the asset manager’s stock worth $7,632,000 after purchasing an additional 7,931 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Solar Senior Capital by 1.4% during the 2nd 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 last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Solar Senior Capital during the 2nd quarter worth $837,000. Cetera Investment Advisers acquired a new position in shares of Solar Senior Capital during the 2nd quarter worth $241,000. Finally, OxFORD Asset Management LLP increased its stake in shares of Solar Senior Capital by 24.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 33,478 shares of the asset manager’s stock worth $583,000 after purchasing an additional 6,644 shares during the last quarter. Institutional investors own 30.24% of the company’s stock.

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About Solar Senior Capital

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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