Capitala Finance Corp. (CPTA) Reaches New 52-Week Low at $8.82
Capitala Finance Corp. (NASDAQ:CPTA) reached a new 52-week low on Monday . The company traded as low as $8.82 and last traded at $8.82, with a volume of 174,646 shares changing hands. The stock had previously closed at $9.11.
A number of research analysts have commented on CPTA shares. FBR & Co upped their price objective on Capitala Finance Corp. from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Capitala Finance Corp. in a report on Friday, April 28th. Ladenburg Thalmann Financial Services reaffirmed a “neutral” rating on shares of Capitala Finance Corp. in a report on Thursday, August 10th. Wunderlich raised Capitala Finance Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.50 to $15.50 in a report on Monday, May 15th. Finally, Zacks Investment Research raised Capitala Finance Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.32.
The company’s 50-day moving average price is $12.08 and its 200 day moving average price is $13.45.
Capitala Finance Corp. (NASDAQ:CPTA) last announced its quarterly earnings results on Monday, August 7th. The investment management company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.33. The company had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $15.11 million. Capitala Finance Corp. had a net margin of 8.91% and a return on equity of 8.55%. Equities analysts predict that Capitala Finance Corp. will post $1.27 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 23rd will be given a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 17.61%. The ex-dividend date is Monday, August 21st. Capitala Finance Corp.’s dividend payout ratio (DPR) is presently 458.82%.
In related news, Director Larry W. Carroll purchased 20,000 shares of Capitala Finance Corp. stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $9.15 per share, for a total transaction of $183,000.00. Following the completion of the transaction, the director now owns 82,150 shares in the company, valued at $751,672.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mcglinn purchased 4,444 shares of Capitala Finance Corp. stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $9.00 per share, with a total value of $39,996.00. Following the completion of the transaction, the insider now owns 112,485 shares of the company’s stock, valued at approximately $1,012,365. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 30,642 shares of company stock valued at $289,029. 8.40% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CPTA. Acadian Asset Management LLC bought a new position in shares of Capitala Finance Corp. during the first quarter valued at $309,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Capitala Finance Corp. by 74.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,592 shares of the investment management company’s stock valued at $5,235,000 after buying an additional 155,815 shares during the period. Armor Investment Advisors LLC boosted its position in shares of Capitala Finance Corp. by 12.7% in the first quarter. Armor Investment Advisors LLC now owns 34,677 shares of the investment management company’s stock valued at $498,000 after buying an additional 3,900 shares during the period. Nine Chapters Capital Management LLC bought a new position in shares of Capitala Finance Corp. during the first quarter valued at $200,000. Finally, Eagle Global Advisors LLC boosted its position in shares of Capitala Finance Corp. by 36.6% in the first quarter. Eagle Global Advisors LLC now owns 26,771 shares of the investment management company’s stock valued at $384,000 after buying an additional 7,168 shares during the period. Institutional investors own 28.29% of the company’s stock.
About Capitala Finance Corp.
Capitala Finance Corp. is an externally managed non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. Both directly and through its subsidiaries that are licensed by the United States Small Business Administration (SBA), the Company offers financing to business owners, management teams and financial sponsors for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.
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