Marshall Wace LLP acquired a new position in Solar Capital Ltd. (NASDAQ:SLRC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 211,815 shares of the financial services provider’s stock, valued at approximately $4,414,000. Marshall Wace LLP owned approximately 0.50% of Solar Capital as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in Solar Capital during the first quarter worth about $42,000. Acadian Asset Management LLC bought a new stake in Solar Capital during the fourth quarter worth about $111,000. Glassman Wealth Services bought a new stake in Solar Capital during the first quarter worth about $165,000. Northern Trust Corp lifted its position in Solar Capital by 6.3% during the fourth quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 624 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Solar Capital during the first quarter worth about $208,000. Institutional investors and hedge funds own 58.03% of the company’s stock.
NASDAQ:SLRC traded up $0.12 on Friday, reaching $20.63. 75,902 shares of the stock traded hands, compared to its average volume of 94,368. The stock has a market capitalization of $871.84 million, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 3.86 and a beta of 0.71. Solar Capital Ltd. has a 1-year low of $18.45 and a 1-year high of $22.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day moving average of $20.66.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Thursday, June 20th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date was Wednesday, June 19th. Solar Capital’s dividend payout ratio is currently 92.66%.
A number of research analysts have recently commented on the stock. Raymond James assumed coverage on shares of Solar Capital in a report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 target price for the company. National Securities reissued a “buy” rating on shares of Model N in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.70.
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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