Clear Harbor Asset Management LLC trimmed its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 232,778 shares of the financial services provider’s stock after selling 14,325 shares during the quarter. Solar Capital makes up approximately 1.0% of Clear Harbor Asset Management LLC’s holdings, making the stock its 25th largest position. Clear Harbor Asset Management LLC’s holdings in Solar Capital were worth $5,037,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SLRC. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Solar Capital in the 2nd quarter worth approximately $125,000. Global X Management Co. LLC boosted its position in shares of Solar Capital by 49.7% in the 1st quarter. Global X Management Co. LLC now owns 6,043 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,005 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Solar Capital in the 2nd quarter valued at approximately $217,000. Northern Trust Corp lifted its position in Solar Capital by 11.7% in the 2nd quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in Solar Capital in the 2nd quarter valued at approximately $261,000. 62.87% of the stock is currently owned by institutional investors and hedge funds.
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Solar Capital Ltd. (SLRC) traded down $0.13 during trading hours on Friday, hitting $21.70. The stock had a trading volume of 105,100 shares, compared to its average volume of 98,122. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $922.55, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55. Solar Capital Ltd. has a 52-week low of $20.14 and a 52-week high of $22.94.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $36.15 million during the quarter, compared to analysts’ expectations of $35.95 million. Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. research analysts anticipate that Solar Capital Ltd. will post 1.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 22nd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.64 annualized dividend and a yield of 7.56%. This is an increase from Solar Capital’s previous quarterly dividend of $0.40. Solar Capital’s dividend payout ratio is currently 95.24%.
Several equities analysts recently issued reports on SLRC shares. Ladenburg Thalmann Financial Services raised Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. National Securities upped their price objective on Solar Capital from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Keefe, Bruyette & Woods set a $23.00 target price on shares of Solar Capital and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.35.
Solar Capital Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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