BidaskClub upgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a hold rating to a buy rating in a report issued on Monday.
Separately, Zacks Investment Research cut shares of Solar Senior Capital from a hold rating to a sell rating in a research report on Friday, November 9th.
SUNS traded up $0.06 during trading on Monday, hitting $16.06. 100 shares of the stock traded hands, compared to its average volume of 47,760. The stock has a market capitalization of $254.08 million, a P/E ratio of 11.38 and a beta of 0.51. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.17. Solar Senior Capital has a 12-month low of $14.50 and a 12-month high of $18.05.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Monday, November 5th. The asset manager reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The business had revenue of $11.01 million during the quarter, compared to analysts’ expectations of $10.10 million. Solar Senior Capital had a net margin of 58.33% and a return on equity of 8.41%. Sell-side analysts expect that Solar Senior Capital will post 1.41 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 24th will be given a dividend of $0.1175 per share. The ex-dividend date is Wednesday, January 23rd. This represents a $1.41 annualized dividend and a yield of 8.78%. Solar Senior Capital’s payout ratio is currently 100.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of SUNS. Stratos Wealth Partners LTD. bought a new position in Solar Senior Capital in the 3rd quarter worth $105,000. Nisa Investment Advisors LLC raised its holdings in Solar Senior Capital by 68.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the asset manager’s stock worth $211,000 after purchasing an additional 5,100 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Solar Senior Capital by 73.1% in the 3rd quarter. Mackenzie Financial Corp now owns 69,249 shares of the asset manager’s stock worth $1,157,000 after purchasing an additional 29,249 shares in the last quarter. Resource America Inc. raised its holdings in Solar Senior Capital by 36.0% in the 3rd quarter. Resource America Inc. now owns 113,034 shares of the asset manager’s stock worth $1,889,000 after purchasing an additional 29,940 shares in the last quarter. Finally, B. Riley Financial Inc. raised its holdings in Solar Senior Capital by 0.6% in the 3rd quarter. B. Riley Financial Inc. now owns 268,360 shares of the asset manager’s stock worth $4,484,000 after purchasing an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 22.41% of the company’s stock.
About Solar Senior Capital
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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