Silver Spike Investment (NASDAQ:SSIC) Releases Quarterly Earnings Results, Hits Expectations

Silver Spike Investment (NASDAQ:SSIC) posted its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate 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 firm had revenue of $3.66 million during the quarter, compared to analysts’ expectations of $3.38 million.

Silver Spike Investment Trading Down 2.5 %

Shares of SSIC opened at $9.61 on Friday. The firm has a fifty day simple moving average of $8.96 and a 200 day simple moving average of $9.13. The stock has a market capitalization of $59.73 million, a price-to-earnings ratio of 8.21 and a beta of 0.42. Silver Spike Investment has a 12 month low of $7.29 and a 12 month high of $10.47.

Silver Spike Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 19th. This represents a $1.00 dividend on an annualized basis and a yield of 10.41%. Silver Spike Investment’s payout ratio is 85.47%.

Hedge Funds Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC purchased a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 owned by institutional investors and hedge funds.

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.