Silver Spike Investment (NASDAQ:SSIC) Announces Earnings Results

Silver Spike Investment (NASDAQ:SSIC) posted its quarterly earnings data on Wednesday. The company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28, Yahoo Finance reports. Silver Spike Investment had a net margin of 61.51% and a return on equity of 7.47%. The company had revenue of $3.66 million during the quarter, compared to analyst estimates of $3.38 million.

Silver Spike Investment Price Performance

Shares of SSIC stock opened at $9.61 on Friday. The stock has a market cap of $59.73 million, a P/E ratio of 8.21 and a beta of 0.42. Silver Spike Investment has a one year low of $7.29 and a one year high of $10.47. The stock has a fifty day moving average price of $8.96 and a 200 day moving average price of $9.13.

Silver Spike Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.00 annualized dividend and a yield of 10.41%. Silver Spike Investment’s dividend payout ratio (DPR) is presently 85.47%.

Institutional Trading of Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. Penserra Capital Management LLC acquired a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 109,935 shares of the company’s stock, valued at approximately $1,462,000. Penserra Capital Management LLC owned approximately 1.81% of Silver Spike Investment at the end of the most recent reporting period. 4.36% of the stock is currently owned by institutional investors.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.