Triangle Capital Corp. (TCAP) Shares Bought by Advisory Services Network LLC
Advisory Services Network LLC raised its stake in Triangle Capital Corp. (NYSE:TCAP) by 50.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,021 shares of the company’s stock after buying an additional 3,020 shares during the period. Advisory Services Network LLC’s holdings in Triangle Capital Corp. were worth $175,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of Triangle Capital Corp. during the second quarter valued at about $4,070,000. LGT Capital Partners LTD. bought a new position in Triangle Capital Corp. during the second quarter valued at approximately $2,720,000. Confluence Investment Management LLC raised its position in Triangle Capital Corp. by 3.9% in the second quarter. Confluence Investment Management LLC now owns 437,921 shares of the company’s stock valued at $8,487,000 after buying an additional 16,577 shares during the period. Wealthsource Partners LLC bought a new position in Triangle Capital Corp. during the first quarter valued at approximately $317,000. Finally, Muzinich & Co. Inc. raised its position in Triangle Capital Corp. by 6.1% in the second quarter. Muzinich & Co. Inc. now owns 244,879 shares of the company’s stock valued at $4,746,000 after buying an additional 14,035 shares during the period. Institutional investors and hedge funds own 19.89% of the company’s stock.
Shares of Triangle Capital Corp. (NYSE:TCAP) traded up 0.10% during trading on Monday, reaching $19.31. The company had a trading volume of 109,440 shares. The company has a market cap of $770.08 million, a P/E ratio of 13.89 and a beta of 0.85. Triangle Capital Corp. has a 12-month low of $14.91 and a 12-month high of $23.19. The firm has a 50-day moving average of $19.64 and a 200-day moving average of $19.52.
Triangle Capital Corp. (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $28.40 million for the quarter. Triangle Capital Corp. had a return on equity of 12.56% and a net margin of 39.44%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities research analysts anticipate that Triangle Capital Corp. will post $1.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 9.32%. The ex-dividend date was Friday, September 2nd. Triangle Capital Corp.’s dividend payout ratio is currently 129.50%.
TCAP has been the subject of several recent research reports. Raymond James Financial Inc. raised Triangle Capital Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating on shares of Triangle Capital Corp. in a report on Thursday, August 4th. Zacks Investment Research raised Triangle Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Hilliard Lyons initiated coverage on Triangle Capital Corp. in a report on Wednesday, September 28th. They set a “buy” rating and a $20.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.40.
About Triangle Capital Corp.
Triangle Capital Corporation is a specialty finance company. The Company provides customized financing to lower middle market companies located in the United States. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments.
Want to see what other hedge funds are holding TCAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triangle Capital Corp. (NYSE:TCAP).
Receive News & Ratings for Triangle Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triangle Capital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.