Muzinich & Co. Inc. raised its position in Solar Capital Ltd. (NASDAQ:SLRC) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 629,186 shares of the company’s stock after buying an additional 46,440 shares during the period. Solar Capital makes up approximately 5.5% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 6th largest position. Muzinich & Co. Inc.’s holdings in Solar Capital were worth $11,986,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SLRC. Bank of Montreal Can acquired a new position in shares of Solar Capital during the second quarter worth about $4,534,000. JPMorgan Chase & Co. increased its position in shares of Solar Capital by 12.2% in the first quarter. JPMorgan Chase & Co. now owns 404,499 shares of the company’s stock worth $6,989,000 after buying an additional 43,938 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Solar Capital by 8.2% in the second quarter. Punch & Associates Investment Management Inc. now owns 309,073 shares of the company’s stock worth $5,888,000 after buying an additional 23,432 shares in the last quarter. BlackRock Group LTD increased its position in shares of Solar Capital by 7.0% in the first quarter. BlackRock Group LTD now owns 167,007 shares of the company’s stock worth $2,886,000 after buying an additional 10,941 shares in the last quarter. Finally, Green Square Capital LLC acquired a new position in shares of Solar Capital during the second quarter worth about $198,000. Institutional investors own 58.55% of the company’s stock.
Shares of Solar Capital Ltd. (NASDAQ:SLRC) traded down 0.44% during trading on Thursday, reaching $20.35. The company had a trading volume of 91,687 shares. Solar Capital Ltd. has a 12 month low of $15.05 and a 12 month high of $20.88. The firm’s 50 day moving average price is $20.35 and its 200 day moving average price is $18.96.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. Solar Capital had a net margin of 35.86% and a return on equity of 7.83%. Equities research analysts forecast that Solar Capital Ltd. will post $1.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $1.60 annualized dividend and a yield of 7.86%. Solar Capital’s dividend payout ratio (DPR) is 136.75%.
SLRC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, August 5th. National Securities reiterated a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of Solar Capital in a research report on Thursday, August 4th. Deutsche Bank AG raised their target price on Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a research report on Thursday, August 4th. Keefe, Bruyette & Woods set a $21.50 target price on Solar Capital and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. raised their target price on Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.38.
Solar Capital Company Profile
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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