Raymond James Financial downgraded shares of Triangle Capital (NYSE:TCAP) from a market perform rating to an underperform rating in a research note issued to investors on Thursday, April 5th, Marketbeat.com reports. The analysts noted that the move was a valuation call.
A number of other analysts have also issued reports on TCAP. ValuEngine lowered shares of Triangle Capital from a strong-buy rating to a buy rating in a research note on Sunday, December 31st. UBS raised shares of Triangle Capital from an underperform rating to a market perform rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of Triangle Capital from a sell rating to a hold rating in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $12.00 price objective on shares of Triangle Capital in a research note on Thursday, March 1st. Finally, National Securities reaffirmed a neutral rating and issued a $11.00 price objective on shares of Triangle Capital in a research note on Friday, March 2nd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $15.42.
Shares of TCAP opened at $11.72 on Thursday. The firm has a market cap of $562.85, a PE ratio of 7.56, a P/E/G ratio of 1.90 and a beta of 0.77. Triangle Capital has a 12-month low of $8.91 and a 12-month high of $19.15. The company has a quick ratio of 43.15, a current ratio of 43.15 and a debt-to-equity ratio of 0.88.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 10.24%. The ex-dividend date of this dividend was Tuesday, March 13th. Triangle Capital’s payout ratio is 77.42%.
Several hedge funds have recently added to or reduced their stakes in TCAP. Wells Fargo & Company MN lifted its position in shares of Triangle Capital by 36.4% during the third quarter. Wells Fargo & Company MN now owns 1,952,522 shares of the credit services provider’s stock valued at $27,882,000 after buying an additional 521,430 shares during the last quarter. Financial Counselors Inc. purchased a new stake in shares of Triangle Capital during the third quarter valued at about $143,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Triangle Capital by 59.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,299 shares of the credit services provider’s stock valued at $547,000 after buying an additional 14,305 shares during the last quarter. Atlantic Trust Group LLC purchased a new stake in shares of Triangle Capital during the third quarter valued at about $1,693,000. Finally, Wasatch Advisors Inc. lifted its position in shares of Triangle Capital by 68.0% during the fourth quarter. Wasatch Advisors Inc. now owns 50,621 shares of the credit services provider’s stock valued at $480,000 after buying an additional 20,487 shares during the last quarter. 45.09% of the stock is owned by institutional investors and hedge funds.
Triangle Capital Company Profile
Triangle Capital Corporation is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies.
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