Solar Capital (NASDAQ:SLRC) Rating Lowered to Strong Sell at BidaskClub

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Solar Capital (NASDAQ:SLRC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, BidAskClub reports.

Several other equities research analysts have also commented on the stock. TheStreet lowered shares of Solar Capital from a “b” rating to a “c+” rating in a research note on Tuesday, November 19th. Zacks Investment Research cut Solar Capital from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.63.

SLRC traded down $0.10 during trading on Tuesday, reaching $20.81. The stock had a trading volume of 464 shares, compared to its average volume of 119,662. The stock’s 50 day moving average is $20.72 and its two-hundred day moving average is $20.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $879.85 million, a price-to-earnings ratio of 11.76, a P/E/G ratio of 3.92 and a beta of 0.69. Solar Capital has a one year low of $19.72 and a one year high of $21.83.

Solar Capital (NASDAQ:SLRC) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. The firm had revenue of $39.71 million for the quarter, compared to analysts’ expectations of $39.33 million. Solar Capital had a net margin of 43.03% and a return on equity of 7.97%. On average, equities research analysts predict that Solar Capital will post 1.74 earnings per share for the current year.

In related news, insider Guy Talarico bought 7,150 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $20.86 per share, with a total value of $149,149.00. Following the transaction, the insider now owns 930 shares in the company, valued at approximately $19,399.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Hochberg sold 15,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.57, for a total transaction of $308,550.00. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SLRC. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Solar Capital in the 2nd quarter worth approximately $41,000. Centaurus Financial Inc. boosted its stake in Solar Capital by 4,820.7% in the 2nd quarter. Centaurus Financial Inc. now owns 5,462 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 5,351 shares during the period. Round Table Services LLC bought a new position in Solar Capital in the 3rd quarter worth approximately $210,000. Wambolt & Associates LLC bought a new position in Solar Capital in the 3rd quarter worth approximately $213,000. Finally, D.A. Davidson & CO. bought a new position in Solar Capital in the 3rd quarter worth approximately $249,000. 58.96% of the stock is owned by institutional investors.

About Solar Capital

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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