Solar Senior Capital (SUNS) Downgraded to Sell at BidaskClub

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BidaskClub cut shares of Solar Senior Capital (NASDAQ:SUNS) from a hold rating to a sell rating in a report issued on Tuesday morning.

A number of other research firms have also recently commented on SUNS. Zacks Investment Research cut Solar Senior Capital from a hold rating to a sell rating in a research report on Friday, August 10th. Maxim Group reiterated a buy rating and set a $18.50 price objective on shares of Solar Senior Capital in a research report on Tuesday, August 7th.

Shares of NASDAQ:SUNS traded up $0.13 during midday trading on Tuesday, reaching $16.58. 100 shares of the company’s stock traded hands, compared to its average volume of 37,158. The company has a market cap of $256.65 million, a P/E ratio of 11.82 and a beta of 0.56. Solar Senior Capital has a one year low of $15.71 and a one year high of $18.40.

Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings data on Monday, November 5th. The asset manager reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $11.01 million during the quarter, compared to analysts’ expectations of $10.10 million. Solar Senior Capital had a return on equity of 8.37% and a net margin of 64.99%. On average, sell-side analysts expect that Solar Senior Capital will post 1.4 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 4th. Investors of record on Wednesday, November 21st will be given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date is Tuesday, November 20th. This is a boost from Solar Senior Capital’s previous monthly dividend of $0.12. Solar Senior Capital’s dividend payout ratio is 100.00%.

Institutional investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. purchased a new stake in Solar Senior Capital during the third quarter valued at $105,000. Nisa Investment Advisors LLC increased its position in Solar Senior Capital by 68.0% during the third quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the asset manager’s stock valued at $211,000 after acquiring an additional 5,100 shares during the last quarter. Wells Fargo & Company MN increased its position in Solar Senior Capital by 16.2% during the first quarter. Wells Fargo & Company MN now owns 78,886 shares of the asset manager’s stock valued at $1,325,000 after acquiring an additional 10,997 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Solar Senior Capital by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 811,612 shares of the asset manager’s stock valued at $13,562,000 after acquiring an additional 36,287 shares during the last quarter. Institutional investors own 23.13% of the company’s stock.

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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