Solar Senior Capital Ltd (NASDAQ:SUNS) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 79,300 shares, a drop of 10.8% from the July 31st total of 88,900 shares. Based on an average trading volume of 32,800 shares, the short-interest ratio is currently 2.4 days. Currently, 0.6% of the shares of the company are short sold.
Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in Solar Senior Capital in the 2nd quarter worth about $32,000. Virtus ETF Advisers LLC acquired a new position in shares of Solar Senior Capital in the 2nd quarter valued at approximately $2,984,000. Acadian Asset Management LLC raised its position in shares of Solar Senior Capital by 7.0% in the 2nd quarter. Acadian Asset Management LLC now owns 131,779 shares of the asset manager’s stock valued at $2,094,000 after buying an additional 8,631 shares in the last quarter. Advisor Group Inc. raised its position in shares of Solar Senior Capital by 48.4% in the 2nd quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock valued at $146,000 after buying an additional 3,006 shares in the last quarter. Finally, Glassman Wealth Services acquired a new position in shares of Solar Senior Capital in the 1st quarter valued at approximately $167,000. Institutional investors and hedge funds own 20.04% of the company’s stock.
Solar Senior Capital stock traded up $0.05 during midday trading on Friday, hitting $17.37. The company’s stock had a trading volume of 1,261 shares, compared to its average volume of 30,605. Solar Senior Capital has a 1-year low of $14.50 and a 1-year high of $17.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $16.81. The company has a market cap of $277.81 million, a price-to-earnings ratio of 12.32 and a beta of 0.59.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings data on Monday, August 5th. The asset manager reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Solar Senior Capital had a net margin of 35.76% and a return on equity of 8.57%. The business had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $10.76 million. Sell-side analysts forecast that Solar Senior Capital will post 1.38 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th will be paid a $0.117 dividend. This represents a $1.40 annualized dividend and a yield of 8.08%. The ex-dividend date is Thursday, September 19th. Solar Senior Capital’s dividend payout ratio (DPR) is 100.00%.
A number of brokerages have recently commented on SUNS. BidaskClub downgraded shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, Maxim Group restated a “buy” rating and set a $18.50 target price on shares of Solar Senior Capital in a research note on Thursday, August 8th.
Solar Senior Capital Company Profile
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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