Ladenburg Thalmann Financial Services Inc. increased its position in shares of Solar Senior Capital Ltd (NASDAQ:SUNS) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,673 shares of the asset manager’s stock after acquiring an additional 7,860 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.32% of Solar Senior Capital worth $874,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of SUNS. Muzinich & Co. Inc. increased its holdings in Solar Senior Capital by 1.5% in the second quarter. Muzinich & Co. Inc. now owns 573,781 shares of the asset manager’s stock valued at $9,605,000 after purchasing an additional 8,242 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Solar Senior Capital by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 542,976 shares of the asset manager’s stock valued at $9,453,000 after purchasing an additional 87,062 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in Solar Senior Capital in the second quarter valued at about $837,000. OxFORD Asset Management LLP increased its holdings in Solar Senior Capital by 24.8% in 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 during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Solar Senior Capital by 166.5% in the second quarter. Russell Investments Group Ltd. now owns 30,360 shares of the asset manager’s stock valued at $508,000 after purchasing an additional 18,968 shares during the last quarter. 30.24% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th.
Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.82 million. Solar Senior Capital had a return on equity of 8.39% and a net margin of 76.43%. equities analysts expect that Solar Senior Capital Ltd will post 1.41 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 21st will be issued a $0.117 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $1.40 annualized dividend and a dividend yield of 7.92%. Solar Senior Capital’s dividend payout ratio (DPR) is currently 97.92%.
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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.
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