Solar Senior Capital Ltd. (SUNS) Raised to “Hold” at Zacks Investment Research
Solar Senior Capital Ltd. (NASDAQ:SUNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
A number of other brokerages have also recently commented on SUNS. Ladenburg Thalmann cut Solar Senior Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Citigroup Inc. upped their price objective on Solar Senior Capital from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Finally, TheStreet raised Solar Senior Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.67.
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Solar Senior Capital (NASDAQ:SUNS) opened at 16.10 on Friday. The stock has a 50 day moving average price of $16.75 and a 200-day moving average price of $15.56. Solar Senior Capital has a 12-month low of $12.80 and a 12-month high of $17.09.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. On average, analysts predict that Solar Senior Capital will post $1.41 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a dividend of $0.1175 per share. The ex-dividend date was Tuesday, August 16th. This represents a $1.41 dividend on an annualized basis and a yield of 8.76%. Solar Senior Capital’s dividend payout ratio is presently 227.42%.
A number of large investors recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in shares of Solar Senior Capital during the first quarter worth $151,000. JPMorgan Chase & Co. raised its stake in shares of Solar Senior Capital by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 162,979 shares of the company’s stock worth $2,376,000 after buying an additional 9,768 shares in the last quarter. Muzinich & Co. Inc. raised its stake in shares of Solar Senior Capital by 6.0% in the second quarter. Muzinich & Co. Inc. now owns 120,959 shares of the company’s stock worth $1,949,000 after buying an additional 6,860 shares in the last quarter. UBS Group AG raised its stake in shares of Solar Senior Capital by 3.1% in the first quarter. UBS Group AG now owns 205,632 shares of the company’s stock worth $2,998,000 after buying an additional 6,238 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC raised its stake in shares of Solar Senior Capital by 3.1% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 26,490 shares of the company’s stock worth $427,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 22.51% of the company’s stock.
About Solar Senior Capital
Solar Senior Capital Ltd. (SUNS) is a management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. It invests in senior loans, including first lien and second lien debt instruments. It also invests in debt of public companies that are thinly traded.
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