Keefe Bruyette & Woods Maintains Solar Capital Ltd. to Market Perform with Price Target $21.50

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Solar Capital Ltd.(NASDAQ:SLRC). In a research note issued to the investors, the brokerage major Raises the price-target to $21.50 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 3, 2016.

Solar Capital Ltd. (SLRC) shares turned negative on Fridays trading session with the shares closing down -0.12 points or -0.59% at a volume of 1,01,108. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.2. The peak price level was also seen at $20.2 while the days lowest was $20.01. Finally the shares closed at $20.06. The 52-week high of the shares is $20.55 while the 52-week low is $15.05. According to the latest information available, the market cap of the company is $848 M.

Solar Capital Ltd.(SLRC) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $41.37M. Analysts had an estimated revenue of $36.07M. Earnings per share were $0.46. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On May 13, 2016, Steven Hochberg (director) purchased 12,000 shares at $18.33 per share price.Also, On Mar 2, 2016, Michael S Gross (director officer ) purchased 49,580 shares at $17.25 per share price.On Mar 1, 2016, David Wachter (director) purchased 5,000 shares at $16.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Solar Capital Ltd. is a closed-end externally managed non-diversified management investment company that has elected to be treated as a business development company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in leveraged middle markets companies in the form of senior secured loans mezzanine loans and equity securities. The Company is focused primarily on the direct origination of investments through portfolio companies or financial sponsors. The Company’s investments generally range from $5 million to $100 million each although it expects that this investment size may vary proportionately with the size of its capital base and/or strategic initiatives. The Company is managed by Solar Capital Partners LLC (Solar Capital Partners) which provides the administrative services.

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