Solar Senior Capital Ltd (NASDAQ:SUNS) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 79,300 shares, a decline of 10.8% from the July 31st total of 88,900 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 32,800 shares, the short-interest ratio is currently 2.4 days.
Shares of NASDAQ SUNS traded up $0.05 during midday trading on Friday, reaching $17.37. The stock had a trading volume of 1,261 shares, compared to its average volume of 30,605. The firm has a market cap of $277.81 million, a price-to-earnings ratio of 12.32 and a beta of 0.59. Solar Senior Capital has a twelve month low of $14.50 and a twelve month high of $17.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50 day moving average price is $16.93 and its 200 day moving average price is $16.81.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Monday, August 5th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $10.01 million for the quarter, compared to the consensus estimate of $10.76 million. Solar Senior Capital had a net margin of 35.76% and a return on equity of 8.57%. Equities analysts forecast that Solar Senior Capital will post 1.38 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 20th will be given a dividend of $0.117 per share. The ex-dividend date is Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.08%. Solar Senior Capital’s payout ratio is presently 100.00%.
A number of research analysts have recently issued reports on SUNS shares. BidaskClub downgraded shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Maxim Group restated a “buy” rating and issued a $18.50 price target on shares of Solar Senior Capital in a research report on Thursday, August 8th.
Institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new position in shares of Solar Senior Capital during the 2nd quarter valued at $32,000. Marshall Wace LLP acquired a new position in shares of Solar Senior Capital during the 1st quarter valued at $42,000. AllSquare Wealth Management LLC lifted its position in shares of Solar Senior Capital by 293.8% during the 1st quarter. AllSquare Wealth Management LLC now owns 6,300 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 4,700 shares during the period. Certified Advisory Corp lifted its position in shares of Solar Senior Capital by 334.7% during the 1st quarter. Certified Advisory Corp now owns 6,521 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 5,021 shares during the period. Finally, Advisor Group Inc. lifted its position in shares of Solar Senior Capital by 48.4% during the 2nd quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 3,006 shares during the period. Institutional investors own 20.04% 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.
Further Reading: Quiet Period
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