Silver Spike Investment (NASDAQ:SSIC) Issues Quarterly Earnings Results

Silver Spike Investment (NASDAQ:SSIC) issued its earnings results on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28, Yahoo Finance reports. The business had revenue of $3.66 million during the quarter, compared to the consensus estimate of $3.38 million. Silver Spike Investment had a return on equity of 7.47% and a net margin of 61.51%.

Silver Spike Investment Stock Performance

SSIC stock opened at $9.61 on Friday. The firm has a market cap of $59.73 million, a PE ratio of 8.21 and a beta of 0.42. Silver Spike Investment has a one year low of $7.29 and a one year high of $10.47. The firm’s 50 day moving average price is $8.96 and its 200-day moving average price is $9.13.

Silver Spike Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $1.00 annualized dividend and a dividend yield of 10.41%. Silver Spike Investment’s dividend payout ratio (DPR) is 85.47%.

Institutional Investors Weigh In On Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. Penserra Capital Management LLC acquired a new stake in Silver Spike Investment Corp. (NASDAQ:SSIC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned 1.81% of Silver Spike Investment at the end of the most recent quarter. 4.36% of the stock is owned by hedge funds and other institutional investors.

Silver Spike Investment Company Profile

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.