Russell Investments Group Ltd. raised its stake in Solar Senior Capital Ltd. (NASDAQ:SUNS) by 166.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,360 shares of the asset manager’s stock after buying an additional 18,968 shares during the quarter. Russell Investments Group Ltd.’s holdings in Solar Senior Capital were worth $508,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ares Management LLC lifted its position in Solar Senior Capital by 3.2% in the first quarter. Ares Management LLC now owns 275,284 shares of the asset manager’s stock valued at $4,950,000 after buying an additional 8,500 shares during the last quarter. Menlo Advisors LLC lifted its position 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 buying an additional 1,050 shares during the last quarter. Wells Fargo & Company MN lifted its position 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 buying an additional 3,086 shares during the last quarter. Mackenzie Financial Corp lifted its position 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 buying an additional 11,209 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position 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 buying an additional 17,840 shares during the last quarter. 32.84% of the stock is currently owned by institutional investors.
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A number of research analysts have commented on the stock. BidaskClub cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.88.
Shares of Solar Senior Capital Ltd. (NASDAQ SUNS) traded down 0.12% during mid-day trading on Wednesday, hitting $16.58. 22,359 shares of the stock traded hands. The stock has a 50 day moving average price of $16.53 and a 200-day moving average price of $17.26. Solar Senior Capital Ltd. has a one year low of $15.06 and a one year high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $8.24 million. Solar Senior Capital had a return on equity of 7.98% and a net margin of 76.07%. Analysts predict that Solar Senior Capital Ltd. will post $1.35 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 22nd will be paid a $0.1175 dividend. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12. This represents a $1.41 annualized dividend and a dividend yield of 8.49%. The ex-dividend date is Thursday, September 21st. Solar Senior Capital’s payout ratio is currently 94.63%.
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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