Silver Spike Investment (NASDAQ:SSIC) Releases Earnings Results, Hits Expectations

Silver Spike Investment (NASDAQ:SSIC) posted its earnings results on Wednesday. The company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28, Yahoo Finance reports. Silver Spike Investment had a return on equity of 7.47% and a net margin of 61.51%. The firm had revenue of $3.66 million for the quarter, compared to analyst estimates of $3.38 million.

Silver Spike Investment Trading Down 2.5 %

Shares of Silver Spike Investment stock opened at $9.61 on Friday. Silver Spike Investment has a 12-month low of $7.29 and a 12-month high of $10.47. The company has a 50-day moving average of $8.96 and a two-hundred day moving average of $9.13. The stock has a market cap of $59.73 million, a PE ratio of 8.21 and a beta of 0.42.

Silver Spike Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 19th. This represents a $1.00 annualized dividend and a yield of 10.41%. Silver Spike Investment’s dividend payout ratio is currently 85.47%.

Institutional Investors Weigh In On Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. Penserra Capital Management LLC bought a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned 1.81% of Silver Spike Investment as of its most recent SEC filing. Institutional investors own 4.36% of the company’s stock.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.