Wells Fargo & Company MN increased its position in Solar Senior Capital Ltd (NASDAQ:SUNS) by 75.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,447 shares of the asset manager’s stock after buying an additional 8,782 shares during the period. Wells Fargo & Company MN owned 0.13% of Solar Senior Capital worth $326,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in Solar Senior Capital in the second quarter worth approximately $32,000. Advisor Group Inc. increased its holdings in Solar Senior Capital by 48.4% in the second quarter. Advisor Group Inc. now owns 9,214 shares of the asset manager’s stock worth $146,000 after buying an additional 3,006 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Solar Senior Capital in the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 20.04% of the company’s stock.
NASDAQ:SUNS opened at $17.03 on Wednesday. The stock’s 50 day moving average price is $17.25 and its 200 day moving average price is $16.86. Solar Senior Capital Ltd has a 52 week low of $14.50 and a 52 week high of $18.00. The company has a market capitalization of $274.61 million, a P/E ratio of 12.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.54 and a current ratio of 0.54.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Monday, August 5th. The asset manager reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. The company had revenue of $10.01 million for the quarter, compared to the consensus estimate of $10.76 million. As a group, sell-side analysts forecast that Solar Senior Capital Ltd will post 1.38 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.117 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.40 annualized dividend and a yield of 8.24%. Solar Senior Capital’s dividend payout ratio (DPR) is presently 100.00%.
SUNS has been the topic of a number of research reports. BidaskClub upgraded Solar Senior Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Zacks Investment Research downgraded Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, Maxim Group restated a “buy” rating and issued a $18.50 price objective on shares of Solar Senior Capital in a report on Thursday, August 8th.
Solar Senior Capital Profile
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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