Wells Fargo & Company MN Lowers Stake in Solar Senior Capital Ltd. (SUNS)

Wells Fargo & Company MN lessened its holdings in Solar Senior Capital Ltd. (NASDAQ:SUNS) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 67,519 shares of the asset manager’s stock after selling 1,283 shares during the period. Wells Fargo & Company MN’s holdings in Solar Senior Capital were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wedbush Securities Inc. lifted its position in shares of Solar Senior Capital by 0.4% in the 2nd quarter. Wedbush Securities Inc. now owns 11,122 shares of the asset manager’s stock worth $186,000 after purchasing an additional 48 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Solar Senior Capital by 149.7% in the 1st quarter. Russell Investments Group Ltd. now owns 11,392 shares of the asset manager’s stock worth $205,000 after purchasing an additional 6,829 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Solar Senior Capital by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock worth $308,000 after purchasing an additional 388 shares during the period. Menlo Advisors LLC lifted its position in shares of Solar Senior Capital by 5.4% in the 2nd quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock worth $344,000 after purchasing an additional 1,050 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Solar Senior Capital by 2,438.2% in the 2nd quarter. Bank of Montreal Can now owns 73,912 shares of the asset manager’s stock worth $1,237,000 after purchasing an additional 71,000 shares during the period. 30.42% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Solar Senior Capital has an average rating of “Hold” and an average price target of $17.17.

Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Solar Senior Capital had a net margin of 76.07% and a return on equity of 7.98%. The company had revenue of $7.66 million during the quarter, compared to the consensus estimate of $8.24 million.

The company also recently declared a monthly dividend, which was paid on Wednesday, November 1st. Investors of record on Thursday, October 19th were paid a $0.1175 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $1.41 dividend on an annualized basis and a yield of 7.97%. Solar Senior Capital’s dividend payout ratio is currently 94.63%.

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About Solar Senior Capital

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.

Institutional Ownership by Quarter for Solar Senior Capital (NASDAQ:SUNS)

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