Triangle Capital Corporation (NYSE:TCAP) saw a large drop in short interest in the month of September. As of September 29th, there was short interest totalling 556,038 shares, a drop of 36.8% from the September 15th total of 880,058 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 296,808 shares, the days-to-cover ratio is presently 1.9 days.
Shares of Triangle Capital Corporation (NYSE TCAP) opened at 12.59 on Friday. The stock has a 50 day moving average price of $13.65 and a 200-day moving average price of $16.16. The firm has a market cap of $601.11 million, a price-to-earnings ratio of 26.17 and a beta of 0.92. Triangle Capital Corporation has a 1-year low of $12.41 and a 1-year high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last announced its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The company had revenue of $31.20 million during the quarter, compared to analyst estimates of $33.25 million. During the same period in the prior year, the firm earned $0.49 EPS. Triangle Capital Corporation’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Triangle Capital Corporation will post $1.67 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the business. IHT Wealth Management LLC increased its stake in shares of Triangle Capital Corporation by 11.4% in the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after purchasing an additional 250 shares during the period. WFG Advisors LP bought a new position in shares of Triangle Capital Corporation in the second quarter worth about $101,000. Sigma Planning Corp bought a new position in shares of Triangle Capital Corporation in the second quarter worth about $181,000. Wasatch Advisors Inc. bought a new position in shares of Triangle Capital Corporation in the second quarter worth about $235,000. Finally, Trust Co. of Vermont increased its stake in shares of Triangle Capital Corporation by 139.9% in the second quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock worth $235,000 after purchasing an additional 7,781 shares during the period. 31.38% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on TCAP shares. Robert W. Baird upgraded Triangle Capital Corporation from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a report on Monday, August 28th. ValuEngine upgraded Triangle Capital Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Triangle Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. JMP Securities downgraded Triangle Capital Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 9th. Finally, National Securities downgraded Triangle Capital Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $18.00 in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Triangle Capital Corporation currently has a consensus rating of “Hold” and a consensus price target of $17.86.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/10/27/triangle-capital-corporation-tcap-short-interest-down-36-8-in-september.html.
About Triangle Capital Corporation
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.
Receive News & Ratings for Triangle Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triangle Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.