Solar Senior Capital Ltd. (SUNS) Upgraded at Zacks Investment Research
Solar Senior Capital Ltd. (NASDAQ:SUNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “
Separately, BidaskClub cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.17.
Shares of Solar Senior Capital (NASDAQ SUNS) traded down 1.25% on Wednesday, hitting $17.43. 32,372 shares of the stock were exchanged. The company’s 50 day moving average is $16.72 and its 200-day moving average is $17.22. Solar Senior Capital has a 52-week low of $15.06 and a 52-week high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last issued its earnings results on Tuesday, August 1st. The asset manager reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $8.24 million. Solar Senior Capital had a net margin of 76.07% and a return on equity of 7.98%. Equities analysts predict that Solar Senior Capital will post $1.36 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Wedbush Securities Inc. raised its holdings in Solar Senior Capital by 0.4% in the second quarter. Wedbush Securities Inc. now owns 11,122 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 48 shares in the last quarter. Menlo Advisors LLC increased its stake in Solar Senior Capital by 5.4% in the second quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock valued at $344,000 after purchasing an additional 1,050 shares during the last quarter. Wells Fargo & Company MN increased its stake in Solar Senior Capital by 4.7% in the first quarter. Wells Fargo & Company MN now owns 68,802 shares of the asset manager’s stock valued at $1,238,000 after purchasing an additional 3,086 shares during the last quarter. Mackenzie Financial Corp increased its stake in Solar Senior Capital by 67.4% in the first quarter. Mackenzie Financial Corp now owns 27,836 shares of the asset manager’s stock valued at $500,000 after purchasing an additional 11,209 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Solar Senior Capital by 12.5% in the first quarter. Wellington Management Group LLP now owns 160,272 shares of the asset manager’s stock valued at $2,882,000 after purchasing an additional 17,840 shares during the last quarter. 32.84% of the stock is currently owned by hedge funds and other institutional investors.
Solar Senior Capital Company Profile
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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