Davidson & Garrard Inc. decreased its position in Triangle Capital Corporation (NYSE:TCAP) by 66.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,105 shares of the credit services provider’s stock after selling 55,609 shares during the period. Davidson & Garrard Inc. owned about 0.06% of Triangle Capital Corporation worth $401,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Triangle Capital Corporation by 32.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 410,008 shares of the credit services provider’s stock valued at $5,854,000 after buying an additional 100,378 shares in the last quarter. BB&T Securities LLC increased its holdings in Triangle Capital Corporation by 74.5% in the second quarter. BB&T Securities LLC now owns 157,181 shares of the credit services provider’s stock valued at $2,770,000 after buying an additional 67,097 shares in the last quarter. Ares Management LLC increased its holdings in Triangle Capital Corporation by 26.1% in the second quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock valued at $714,413,000 after buying an additional 83,876 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Triangle Capital Corporation by 649.1% in the first quarter. JPMorgan Chase & Co. now owns 16,795 shares of the credit services provider’s stock valued at $321,000 after buying an additional 14,553 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in Triangle Capital Corporation in the second quarter valued at $1,908,000. 33.83% of the stock is owned by institutional investors.
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Shares of Triangle Capital Corporation (NYSE:TCAP) traded up $0.10 during trading on Wednesday, hitting $9.52. 532,600 shares of the stock traded hands, compared to its average volume of 370,695. Triangle Capital Corporation has a fifty-two week low of $8.91 and a fifty-two week high of $20.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 56.98 and a current ratio of 56.98. The firm has a market cap of $451.15, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91.
Triangle Capital Corporation (NYSE:TCAP) last issued its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). Triangle Capital Corporation had a negative net margin of 36.80% and a positive return on equity of 10.67%. The company had revenue of $29.88 million during the quarter, compared to analyst estimates of $32.84 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. analysts expect that Triangle Capital Corporation will post 1.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 12.61%. The ex-dividend date is Tuesday, December 5th. Triangle Capital Corporation’s payout ratio is -200.00%.
Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of Triangle Capital Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. National Securities downgraded shares of Triangle Capital Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $18.00 in a research note on Monday, August 7th. Zacks Investment Research raised shares of Triangle Capital Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Robert W. Baird upgraded shares of Triangle Capital Corporation from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Monday, August 28th. Finally, Keefe, Bruyette & Woods cut shares of Triangle Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $20.50 to $18.00 in a report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Triangle Capital Corporation has a consensus rating of “Hold” and an average target price of $16.57.
Triangle Capital Corporation Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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