Zacks Investment Research Upgrades Solar Senior Capital (SUNS) to Hold

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Solar Senior Capital (NASDAQ:SUNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Separately, BidaskClub upgraded shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd.

Shares of NASDAQ:SUNS opened at $17.09 on Friday. The stock has a market capitalization of $274.12 million, a P/E ratio of 12.04 and a beta of 0.60. Solar Senior Capital has a fifty-two week low of $14.50 and a fifty-two week high of $17.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.06 and a current ratio of 0.06.

Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings data on Thursday, February 21st. The asset manager reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $9.98 million for the quarter, compared to the consensus estimate of $10.10 million. Solar Senior Capital had a net margin of 34.70% and a return on equity of 8.45%. On average, research analysts expect that Solar Senior Capital will post 1.4 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. B. Riley Financial Inc. lifted its position in Solar Senior Capital by 0.6% in the 3rd quarter. B. Riley Financial Inc. now owns 268,360 shares of the asset manager’s stock valued at $4,484,000 after purchasing an additional 1,545 shares during the last quarter. Advisor Group Inc. increased its stake in Solar Senior Capital by 276.7% during the 4th quarter. Advisor Group Inc. now owns 2,501 shares of the asset manager’s stock valued at $37,000 after buying an additional 1,837 shares during the period. Two Sigma Advisers LP increased its stake in Solar Senior Capital by 11.4% during the 4th quarter. Two Sigma Advisers LP now owns 47,522 shares of the asset manager’s stock valued at $719,000 after buying an additional 4,878 shares during the period. IFP Advisors Inc acquired a new position in Solar Senior Capital during the 4th quarter valued at about $76,000. Finally, Two Sigma Investments LP increased its stake in Solar Senior Capital by 18.5% during the 4th quarter. Two Sigma Investments LP now owns 42,294 shares of the asset manager’s stock valued at $639,000 after buying an additional 6,610 shares during the period. Hedge funds and other institutional investors own 21.07% 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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