Triangle Capital Co. (NYSE:TCAP) saw a large drop in short interest in the month of 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. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 337,068 shares, the days-to-cover ratio is currently 2.5 days.
Shares of NYSE:TCAP opened at $11.77 on Thursday. Triangle Capital has a 12-month low of $8.91 and a 12-month high of $19.15. The firm has a market capitalization of $561.89, a PE ratio of 7.59 and a beta of 0.77. The company has a current ratio of 43.15, a quick ratio of 43.15 and a debt-to-equity ratio of 0.88.
Triangle Capital (NYSE:TCAP) last announced its quarterly earnings results on Wednesday, February 28th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $31.70 million for 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 forecast that Triangle Capital will post 1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.20%. Triangle Capital’s dividend payout ratio is presently 77.42%.
Several large investors have recently made changes to their positions in the company. Advisor Group Inc. increased 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 acquiring an additional 7,307 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Triangle Capital by 45.8% in the 4th quarter. Baird Financial Group Inc. now owns 33,645 shares of the credit services provider’s stock valued at $319,000 after acquiring an additional 10,566 shares during the period. First Personal Financial Services increased its holdings in shares of Triangle Capital by 8.9% in the 4th quarter. First Personal Financial Services now owns 129,889 shares of the credit services provider’s stock valued at $1,233,000 after acquiring an additional 10,603 shares during the period. Creative Planning acquired a new stake in shares of Triangle Capital in the 4th quarter worth $108,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Triangle Capital in the 4th quarter worth $113,000. Institutional investors and hedge funds own 45.42% of the company’s stock.
Several research analysts have commented on TCAP shares. ValuEngine upgraded Triangle Capital from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. UBS upgraded Triangle Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, January 11th. Raymond James upgraded Triangle Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 price objective on shares of Triangle Capital in a report on Thursday, March 1st. Finally, Zacks Investment Research downgraded Triangle Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 7th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.42.
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About Triangle Capital
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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