Solar Senior Capital (NASDAQ:SUNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
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, December 27th.
Solar Senior Capital (NASDAQ:SUNS) last announced its earnings results on Thursday, November 2nd. The asset manager reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Solar Senior Capital had a net margin of 76.43% and a return on equity of 8.39%. The business had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $7.82 million. equities research analysts predict that Solar Senior Capital will post 1.41 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Solar Senior Capital by 18.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 50,673 shares of the asset manager’s stock worth $874,000 after purchasing an additional 7,860 shares during the last quarter. OxFORD Asset Management LLP boosted its holdings in Solar Senior Capital by 24.8% during the third quarter. OxFORD Asset Management LLP now owns 33,478 shares of the asset manager’s stock worth $583,000 after purchasing an additional 6,644 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Solar Senior Capital by 19.1% during the third quarter. JPMorgan Chase & Co. now owns 542,976 shares of the asset manager’s stock worth $9,453,000 after purchasing an additional 87,062 shares during the last quarter. Cetera Investment Advisers acquired a new position in Solar Senior Capital during the second quarter worth $241,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Solar Senior Capital during the second quarter worth $837,000. Institutional investors and hedge funds own 30.24% of the company’s stock.
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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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