Shares of Solar Senior Capital Ltd (NASDAQ:SUNS) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $17.40 and last traded at $17.20, with a volume of 12617 shares trading hands. The stock had previously closed at $16.96.
The asset manager reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $9.98 million during the quarter, compared to analyst estimates of $10.10 million. Solar Senior Capital had a net margin of 58.33% and a return on equity of 8.41%.
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Thursday, March 21st will be paid a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend is Wednesday, March 20th. Solar Senior Capital’s dividend payout ratio (DPR) is presently 100.00%.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. BidaskClub raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd.
Several hedge funds and other institutional investors have recently bought and sold shares of SUNS. B. Riley Wealth Management Inc. purchased a new position in shares of Solar Senior Capital in the fourth quarter valued at approximately $4,194,000. JPMorgan Chase & Co. boosted its stake in shares of Solar Senior Capital by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 811,612 shares of the asset manager’s stock valued at $13,562,000 after purchasing an additional 36,287 shares during the period. Resource America Inc. boosted its stake in shares of Solar Senior Capital by 36.0% in the third quarter. Resource America Inc. now owns 113,034 shares of the asset manager’s stock valued at $1,889,000 after purchasing an additional 29,940 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Solar Senior Capital by 73.1% in the third quarter. Mackenzie Financial Corp now owns 69,249 shares of the asset manager’s stock valued at $1,157,000 after purchasing an additional 29,249 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Solar Senior Capital by 18.5% in the fourth quarter. Two Sigma Investments LP now owns 42,294 shares of the asset manager’s stock valued at $639,000 after purchasing an additional 6,610 shares during the period. 20.24% of the stock is owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $272.04 million, a P/E ratio of 12.30 and a beta of 0.60.
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About Solar Senior Capital (NASDAQ:SUNS)
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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