Silver Spike Investment (NASDAQ:SSIC) Announces Quarterly Earnings Results, Hits Estimates

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

Silver Spike Investment Stock Performance

Shares of SSIC opened at $9.61 on Friday. The firm has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $9.13. The company has a market capitalization of $59.68 million, a price-to-earnings ratio of 8.21 and a beta of 0.42. Silver Spike Investment has a fifty-two week low of $7.29 and a fifty-two week high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a $0.25 dividend. 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 85.47%.

Hedge Funds Weigh In On Silver Spike Investment

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

Silver Spike Investment Company Profile

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.