Mckinley Capital Management LLC Delaware Invests $3.08 Million in Triangle Capital Co. (TCAP)
Mckinley Capital Management LLC Delaware purchased a new position in Triangle Capital Co. (NYSE:TCAP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 215,374 shares of the credit services provider’s stock, valued at approximately $3,075,000. Mckinley Capital Management LLC Delaware owned about 0.45% of Triangle Capital as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of TCAP. Sumitomo Mitsui Asset Management Company LTD raised its stake in Triangle Capital by 32.4% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 410,008 shares of the credit services provider’s stock valued at $5,854,000 after acquiring an additional 100,378 shares during the period. BB&T Securities LLC raised its stake in Triangle Capital by 74.5% in the 2nd quarter. BB&T Securities LLC now owns 157,181 shares of the credit services provider’s stock valued at $2,770,000 after acquiring an additional 67,097 shares during the period. Ares Management LLC raised its stake in Triangle Capital by 26.1% in the 2nd quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock valued at $714,413,000 after acquiring an additional 83,876 shares during the period. First Personal Financial Services bought a new stake in Triangle Capital in the 2nd quarter valued at about $1,908,000. Finally, Shell Asset Management Co. bought a new stake in Triangle Capital in the 3rd quarter valued at about $1,941,000. 35.47% of the stock is currently owned by institutional investors.
Triangle Capital Co. (NYSE:TCAP) traded down $0.04 during mid-day trading on Friday, hitting $9.77. 427,399 shares of the company traded hands, compared to its average volume of 379,473. The company has a debt-to-equity ratio of 0.87, a quick ratio of 56.98 and a current ratio of 56.98. The company has a market capitalization of $466.43, a PE ratio of 6.03, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. Triangle Capital Co. has a one year low of $8.91 and a one year high of $20.35.
Triangle Capital (NYSE:TCAP) last posted its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The company had revenue of $29.88 million during the quarter, compared to the consensus estimate of $32.84 million. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 36.80%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. equities analysts anticipate that Triangle Capital Co. will post 1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 12.28%. The ex-dividend date of this dividend is Tuesday, December 5th. Triangle Capital’s dividend payout ratio (DPR) is -200.00%.
Several equities research analysts have recently weighed in on TCAP shares. Jefferies Group reiterated a “buy” rating and set a $18.00 price target (down from $23.00) on shares of Triangle Capital in a research report on Wednesday, August 9th. ValuEngine upgraded Triangle Capital from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Hilliard Lyons upgraded Triangle Capital from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, October 18th. TheStreet cut Triangle Capital from a “c” rating to a “d+” rating in a research report on Friday, November 17th. Finally, Stephens cut Triangle Capital from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Triangle Capital has a consensus rating of “Hold” and an average target price of $16.57.
About Triangle Capital
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.
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