Solar Capital (NASDAQ:SLRC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, March 22nd, BidAskClub reports.
A number of other research analysts have also commented on the company. Wells Fargo & Co upped their target price on Solar Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Tuesday, February 26th. Zacks Investment Research cut Solar Capital from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Oppenheimer began coverage on Solar Capital in a research report on Wednesday, November 28th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, National Securities reiterated a “buy” rating and issued a $25.00 price target on shares of Solar Capital in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and an average target price of $22.50.
Shares of SLRC stock traded down $0.08 during trading hours on Friday, reaching $21.36. 54,900 shares of the company’s stock were exchanged, compared to its average volume of 137,143. Solar Capital has a fifty-two week low of $18.45 and a fifty-two week high of $22.00. The firm has a market cap of $906.05 million, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.
In other Solar Capital news, insider Michael S. Gross bought 7,777 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $21.54 per share, for a total transaction of $167,516.58. Following the completion of the acquisition, the insider now owns 165,894 shares of the company’s stock, valued at $3,573,356.76. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Founders Capital Management acquired a new position in shares of Solar Capital during the fourth quarter valued at $29,000. Quantamental Technologies LLC acquired a new position in Solar Capital in the fourth quarter valued at about $44,000. Acadian Asset Management LLC acquired a new position in Solar Capital in the fourth quarter valued at about $111,000. Northern Trust Corp lifted its stake in Solar Capital by 6.3% in the fourth quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock valued at $202,000 after buying an additional 624 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in Solar Capital by 13.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 11,516 shares of the financial services provider’s stock valued at $214,000 after buying an additional 1,355 shares during the period. 58.04% of the stock is currently owned by institutional investors and hedge funds.
Solar Capital Company Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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