Clear Harbor Asset Management LLC reduced its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 247,103 shares of the financial services provider’s stock after selling 2,465 shares during the period. Solar Capital comprises about 1.0% of Clear Harbor Asset Management LLC’s holdings, making the stock its 25th largest position. Clear Harbor Asset Management LLC’s holdings in Solar Capital were worth $5,397,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in Solar Capital during the first quarter worth $104,000. Global X Management Co. LLC boosted its position in Solar Capital by 49.7% in the first quarter. Global X Management Co. LLC now owns 6,043 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,005 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Solar Capital during the second quarter worth $217,000. Mackenzie Financial Corp bought a new position in Solar Capital during the first quarter worth $273,000. Finally, Eagle Global Advisors LLC bought a new position in Solar Capital during the first quarter worth $306,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.
Shares of Solar Capital Ltd. (NASDAQ:SLRC) traded down 0.68% during mid-day trading on Monday, hitting $21.92. 16,527 shares of the company were exchanged. Solar Capital Ltd. has a 52 week low of $19.26 and a 52 week high of $22.94. The company has a 50 day moving average of $21.84 and a 200 day moving average of $21.96.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by $0.03. Solar Capital had a net margin of 54.87% and a return on equity of 7.30%. The firm had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $36.51 million. Analysts forecast that Solar Capital Ltd. will post $1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Thursday, September 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 7.25%. The ex-dividend date of this dividend is Wednesday, September 20th. Solar Capital’s dividend payout ratio is currently 85.11%.
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A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. National Securities restated a “buy” rating and set a $24.00 price target on shares of Solar Capital in a research note on Monday. J P Morgan Chase & Co cut shares of Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Monday, May 1st. Keefe, Bruyette & Woods set a $23.00 price target on shares of Solar Capital and gave the company a “hold” rating in a research note on Thursday. Finally, BidaskClub cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.40.
Solar Capital Company Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified 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 privately held the United States middle market companies.
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