Solar Capital Ltd. (SLRC) : Pvg Asset Management reduced its stake in Solar Capital Ltd. by 6.59% during the most recent quarter end. The investment management company now holds a total of 411,200 shares of Solar Capital Ltd. which is valued at $7.5 Million after selling 29,007 shares in Solar Capital Ltd. , the firm said in a disclosure report filed with the SEC on May 12, 2016.Solar Capital Ltd. makes up approximately 2.90% of Pvg Asset Management’s portfolio.
Other Hedge Funds, Including , Argent Capital Management added SLRC to its portfolio by purchasing 70,400 company shares during the most recent quarter which is valued at $1.3 Million. Solar Capital Ltd. makes up approx 0.06% of Argent Capital Management’s portfolio.Confluence Investment Management boosted its stake in SLRC in the latest quarter, The investment management firm added 12,402 additional shares and now holds a total of 513,837 shares of Solar Capital Ltd. which is valued at $9.5 Million. Solar Capital Ltd. makes up approx 0.28% of Confluence Investment Management’s portfolio.
Solar Capital Ltd. opened for trading at $18.28 and hit $18.6399 on the upside on Friday, eventually ending the session at $18.53, with a gain of 2.15% or 0.39 points. The heightened volatility saw the trading volume jump to 1,10,512 shares. Company has a market cap of $782,874 M.
Many Wall Street Analysts have commented on Solar Capital Ltd.. Shares were Reiterated by Deutsche Bank on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 23 from a previous price target of $23.50 .
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.