Solar Senior Capital Ltd (NASDAQ:SUNS) insider Bruce J. Spohler bought 11,254 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $16.85 per share, for a total transaction of $189,629.90. Following the completion of the transaction, the insider now directly owns 4,000 shares in the company, valued at approximately $67,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Solar Senior Capital Ltd (NASDAQ SUNS) traded down $0.15 during trading on Wednesday, reaching $16.75. 47,664 shares of the company were exchanged, compared to its average volume of 49,705. Solar Senior Capital Ltd has a 12 month low of $16.10 and a 12 month high of $18.46. The stock has a market cap of $271.38, a price-to-earnings ratio of 12.09, a P/E/G ratio of 2.41 and a beta of 0.62.
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.1175 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12. This represents a $1.41 dividend on an annualized basis and a dividend yield of 8.42%. Solar Senior Capital’s dividend payout ratio (DPR) is 96.58%.
Several large investors have recently modified their holdings of SUNS. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 87,062 shares during the period. OxFORD Asset Management LLP boosted its stake in shares of 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 valued at $583,000 after purchasing an additional 6,644 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of 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 valued at $874,000 after purchasing an additional 7,860 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Solar Senior Capital by 11.9% during the fourth quarter. BlackRock Inc. now owns 103,232 shares of the asset manager’s stock valued at $1,833,000 after purchasing an additional 10,982 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new position in shares of Solar Senior Capital during the fourth quarter valued at approximately $119,000. 28.46% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on SUNS. BidaskClub upgraded shares of Solar Senior Capital from a “strong sell” rating to a “sell” rating in a research report on Friday, March 2nd. Zacks Investment Research lowered shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Friday, January 5th.
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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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