BlackRock Inc. trimmed its position in Solar Capital Ltd. (NASDAQ:SLRC) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 175,757 shares of the financial services provider’s stock after selling 9,804 shares during the period. BlackRock Inc.’s holdings in Solar Capital were worth $3,373,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Founders Capital Management bought a new position in Solar Capital in the 4th quarter valued at $29,000. Quantamental Technologies LLC acquired a new position in shares of Solar Capital in the 4th quarter valued at $44,000. Acadian Asset Management LLC acquired a new position in shares of Solar Capital in the 4th quarter valued at $111,000. Bbva Compass Bancshares Inc. lifted its stake in shares of Solar Capital by 17.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 18,410 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 2,775 shares during the period. Finally, Summit Global Investments acquired a new position in shares of Solar Capital in the 4th quarter valued at $641,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.
SLRC has been the topic of a number of analyst reports. Zacks Investment Research raised Solar Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. BidaskClub downgraded Solar Capital from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th. National Securities reissued a “buy” rating and issued a $25.00 price target on shares of Solar Capital in a research note on Monday, February 25th. Wells Fargo & Co increased their price target on Solar Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Tuesday, February 26th. Finally, Raymond James initiated coverage on Solar Capital in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 price target on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.70.
Shares of Solar Capital stock opened at $21.32 on Monday. The firm has a market cap of $901.00 million, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. Solar Capital Ltd. has a 12 month low of $18.45 and a 12 month high of $22.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, February 21st. The financial services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $38.24 million for the quarter, compared to the consensus estimate of $37.46 million. Solar Capital had a return on equity of 8.10% and a net margin of 43.56%. On average, analysts expect that Solar Capital Ltd. will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Thursday, March 21st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 7.69%. The ex-dividend date was Wednesday, March 20th. Solar Capital’s payout ratio is presently 92.66%.
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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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