Zacks Investment Research Lowers Solar Senior Capital (SUNS) to Sell

Zacks Investment Research cut shares of Solar Senior Capital (NASDAQ:SUNS) from a hold rating to a sell rating in a research report released on Friday, January 5th.

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 lowered shares of Solar Senior Capital from a hold rating to a sell rating in a research report on Wednesday, December 27th.

Solar Senior Capital (NASDAQ:SUNS) traded up $0.08 during mid-day trading on Friday, reaching $17.81. 35,600 shares of the company traded hands, compared to its average volume of 36,362. The firm has a market capitalization of $285.58, a price-to-earnings ratio of 12.37, a PEG ratio of 2.49 and a beta of 0.64. Solar Senior Capital has a 52 week low of $16.10 and a 52 week high of $18.46.

Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.82 million. Solar Senior Capital had a net margin of 76.43% and a return on equity of 8.39%. analysts predict that Solar Senior Capital will post 1.41 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Thursday, January 18th will be issued a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a yield of 7.92%. This is an increase from Solar Senior Capital’s previous monthly dividend of $0.12. The ex-dividend date is Wednesday, January 17th. Solar Senior Capital’s dividend payout ratio (DPR) is presently 97.92%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its holdings in Solar Senior Capital by 1.4% during the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers purchased a new position in Solar Senior Capital during the second quarter valued at $241,000. Summit Global Investments purchased a new position in shares of Solar Senior Capital in the second quarter worth about $493,000. Russell Investments Group Ltd. lifted its stake in shares of Solar Senior Capital by 166.5% in the second quarter. Russell Investments Group Ltd. now owns 30,360 shares of the asset manager’s stock worth $508,000 after buying an additional 18,968 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its stake in shares of Solar Senior Capital by 24.8% in the third quarter. OxFORD Asset Management LLP now owns 33,478 shares of the asset manager’s stock worth $583,000 after buying an additional 6,644 shares in the last quarter. 30.24% of the stock is currently owned by institutional investors and hedge funds.

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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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