Triangle Capital Co. (NYSE:TCAP) was the target of a large decrease in short interest in March. As of March 29th, there was short interest totalling 850,600 shares, a decrease of 65.1% from the March 15th total of 2,440,042 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 337,068 shares, the short-interest ratio is currently 2.5 days.
A number of equities analysts have recently issued reports on TCAP shares. UBS downgraded Triangle Capital to an “underperform” rating in a research note on Thursday, April 5th. ValuEngine raised Triangle Capital from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Raymond James Financial raised Triangle Capital from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 11th. National Securities reissued a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Triangle Capital in a research note on Thursday, April 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $12.00 target price on shares of Triangle Capital in a research note on Thursday, March 1st. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.42.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new position in Triangle Capital in the 4th quarter valued at approximately $108,000. Advisor Group Inc. increased its stake in Triangle Capital by 176.2% in the 4th quarter. Advisor Group Inc. now owns 11,453 shares of the credit services provider’s stock valued at $110,000 after purchasing an additional 7,307 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Triangle Capital in the 4th quarter valued at approximately $113,000. Jane Street Group LLC purchased a new position in Triangle Capital in the 4th quarter valued at approximately $199,000. Finally, State of Tennessee Treasury Department purchased a new position in Triangle Capital in the 4th quarter valued at approximately $211,000. 45.42% of the stock is owned by hedge funds and other institutional investors.
Triangle Capital (NYSE:TCAP) last released its quarterly earnings data on Wednesday, February 28th. The credit services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 23.29%. The firm had revenue of $31.70 million during the quarter, compared to the consensus estimate of $28.85 million. During the same period last year, the business posted $0.46 EPS. equities research analysts expect that Triangle Capital will post 1.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.20%. The ex-dividend date of this dividend was Tuesday, March 13th. Triangle Capital’s payout ratio is currently 77.42%.
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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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