Solar Senior Capital Ltd. (SUNS) Upgraded at BidaskClub
Solar Senior Capital Ltd. (NASDAQ:SUNS) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Several other brokerages have also recently weighed in on SUNS. Zacks Investment Research raised Solar Senior Capital from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Thursday, April 13th. Maxim Group restated a “buy” rating and issued a $18.50 price target on shares of Solar Senior Capital in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.88.
Shares of Solar Senior Capital (NASDAQ SUNS) opened at 17.19 on Wednesday. Solar Senior Capital has a 1-year low of $15.06 and a 1-year high of $18.46. The firm’s 50-day moving average price is $17.16 and its 200 day moving average price is $17.28.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Tuesday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. Solar Senior Capital had a net margin of 76.74% and a return on equity of 7.95%. The firm had revenue of $7.50 million for the quarter, compared to analyst estimates of $7.96 million. Equities analysts expect that Solar Senior Capital will post $1.40 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Thursday, July 20th will be given a dividend of $0.117 per share. This represents a $1.40 annualized dividend and a dividend yield of 8.17%. The ex-dividend date is Tuesday, July 18th. Solar Senior Capital’s dividend payout ratio is 89.81%.
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Several large investors have recently modified their holdings of SUNS. Guggenheim Capital LLC boosted its position in Solar Senior Capital by 27.7% in the fourth quarter. Guggenheim Capital LLC now owns 131,647 shares of the asset manager’s stock worth $2,164,000 after buying an additional 28,535 shares during the period. RMB Capital Management LLC bought a new position in Solar Senior Capital during the fourth quarter worth approximately $609,000. Acadian Asset Management LLC boosted its position in Solar Senior Capital by 74.7% in the first quarter. Acadian Asset Management LLC now owns 272,641 shares of the asset manager’s stock worth $4,900,000 after buying an additional 116,576 shares during the period. Clear Harbor Asset Management LLC boosted its position in Solar Senior Capital by 2.5% in the first quarter. Clear Harbor Asset Management LLC now owns 129,279 shares of the asset manager’s stock worth $2,324,000 after buying an additional 3,163 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Solar Senior Capital by 149.7% in the first quarter. Russell Investments Group Ltd. now owns 11,392 shares of the asset manager’s stock worth $205,000 after buying an additional 6,829 shares during the period. Institutional investors own 31.30% of the company’s stock.
About Solar Senior Capital
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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