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

Silver Spike Investment (NASDAQ:SSIC) issued its quarterly earnings data 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 Price Performance

Shares of SSIC stock opened at $9.86 on Thursday. Silver Spike Investment has a 1 year low of $7.29 and a 1 year high of $10.47. The firm has a fifty day moving average price of $8.93 and a 200-day moving average price of $9.13.

Silver Spike Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date is Tuesday, March 19th.

Institutional Investors Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. Penserra Capital Management LLC bought a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 as of its most recent filing with the Securities and Exchange Commission. 4.36% of the stock is currently owned by hedge funds and other institutional investors.

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.