Triangle Capital Co. (NYSE:TCAP) was the recipient of a large drop in short interest in March. As of March 29th, there was short interest totalling 850,600 shares, a drop of 65.1% from the March 15th total of 2,440,042 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 337,068 shares, the days-to-cover ratio is currently 2.5 days.
A number of institutional investors and hedge funds have recently modified their holdings of TCAP. Creative Planning acquired a new position in shares of Triangle Capital in the 4th quarter valued at about $108,000. Advisor Group Inc. lifted its holdings in shares of 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 buying an additional 7,307 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Triangle Capital in the 4th quarter valued at about $113,000. Jane Street Group LLC acquired a new position in shares of Triangle Capital in the 4th quarter valued at about $199,000. Finally, State of Tennessee Treasury Department acquired a new position in shares of Triangle Capital in the 4th quarter valued at about $211,000. 45.42% of the stock is owned by institutional investors.
Shares of TCAP opened at $11.77 on Thursday. Triangle Capital has a one year low of $8.91 and a one year 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 stock has a market cap of $561.89, a price-to-earnings ratio of 7.59 and a beta of 0.77.
Triangle Capital (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, February 28th. The credit services provider reported $0.38 EPS for the quarter, topping the Zacks’ 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 company had revenue of $31.70 million during the quarter, compared to analysts’ expectations of $28.85 million. During the same quarter in the previous year, the firm posted $0.46 EPS. equities research analysts expect that Triangle Capital will post 1.24 earnings per share for the current year.
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. The ex-dividend date was Tuesday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 10.20%. Triangle Capital’s dividend payout ratio is currently 77.42%.
A number of analysts have recently weighed in on TCAP shares. ValuEngine raised Triangle Capital from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. UBS raised Triangle Capital from an “underperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Raymond James raised Triangle Capital from an “underperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $12.00 price objective on shares of Triangle Capital in a research report on Thursday, March 1st. Finally, Zacks Investment Research cut Triangle Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 7th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.42.
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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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