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. “
SUNS has been the topic of a number of other research reports. Maxim Group reaffirmed a buy rating and issued a $18.50 target price on shares of Solar Senior Capital in a research note on Thursday, August 8th. BidaskClub raised Solar Senior Capital from a hold rating to a buy rating in a research note on Friday, August 2nd.
Shares of NASDAQ:SUNS opened at $17.00 on Friday. Solar Senior Capital has a 12 month low of $14.50 and a 12 month high of $17.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.54 and a quick ratio of 0.07. The stock’s 50 day moving average price is $16.42. The stock has a market cap of $268.19 million, a price-to-earnings ratio of 12.06 and a beta of 0.58.
Solar Senior Capital (NASDAQ:SUNS) last posted its earnings results on Monday, August 5th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. The firm had revenue of $10.01 million for the quarter, compared to analyst estimates of $10.76 million. On average, sell-side analysts expect that Solar Senior Capital will post 1.38 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be paid a $0.117 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date is Wednesday, August 21st. Solar Senior Capital’s payout ratio is currently 100.00%.
A number of hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its holdings in Solar Senior Capital by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 47,522 shares of the asset manager’s stock valued at $719,000 after acquiring an additional 4,878 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Solar Senior Capital by 2.0% in the 1st quarter. Confluence Investment Management LLC now owns 67,877 shares of the asset manager’s stock valued at $1,165,000 after acquiring an additional 1,336 shares during the last quarter. Advisor Group Inc. raised its holdings in Solar Senior Capital by 276.7% in the 4th quarter. Advisor Group Inc. now owns 2,501 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 1,837 shares during the last quarter. Glassman Wealth Services acquired a new stake in shares of Solar Senior Capital during the 1st quarter worth $167,000. Finally, Marshall Wace LLP acquired a new stake in shares of Solar Senior Capital during the 1st quarter worth $42,000. 19.36% of the stock is currently owned by hedge funds and other institutional investors.
About Solar Senior Capital
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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