Ladenburg Thalmann Financial Services Inc. boosted its stake in Solar Senior Capital Ltd (NASDAQ:SUNS) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,673 shares of the asset manager’s stock after purchasing an additional 7,860 shares during the period. Ladenburg Thalmann Financial Services Inc. owned about 0.32% of Solar Senior Capital worth $874,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Solar Senior Capital by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 542,976 shares of the asset manager’s stock worth $9,453,000 after purchasing an additional 87,062 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Solar Senior Capital in the second quarter worth $837,000. Summit Global Investments bought a new stake in Solar Senior Capital in the second quarter worth $493,000. Russell Investments Group Ltd. boosted its holdings in Solar Senior Capital by 166.5% in the second quarter. Russell Investments Group Ltd. now owns 30,360 shares of the asset manager’s stock worth $508,000 after acquiring an additional 18,968 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Solar Senior Capital in the second quarter worth $241,000. 30.24% of the stock is currently owned by institutional investors and hedge funds.
SUNS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. BidaskClub cut Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th.
Shares of Solar Senior Capital Ltd (NASDAQ SUNS) traded up $0.11 on Friday, reaching $17.92. The company’s stock had a trading volume of 29,250 shares, compared to its average volume of 34,780. The stock has a market capitalization of $285.58, a PE ratio of 12.44, a price-to-earnings-growth ratio of 2.50 and a beta of 0.64. Solar Senior Capital Ltd has a fifty-two week low of $16.10 and a fifty-two week high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Solar Senior Capital had a return on equity of 8.39% and a net margin of 76.43%. The business had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $7.82 million. equities analysts forecast that Solar Senior Capital Ltd will post 1.41 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 31st. Investors of record on Thursday, January 18th will be given a dividend of $0.1175 per share. The ex-dividend date of this dividend is Wednesday, January 17th. This represents a $1.41 annualized dividend and a dividend yield of 7.87%. This is a boost from Solar Senior Capital’s previous monthly dividend of $0.12. Solar Senior Capital’s dividend payout ratio (DPR) is currently 97.92%.
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Solar Senior Capital 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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