Commonwealth Equity Services Inc Increases Holdings in Triangle Capital Co. (TCAP)
Commonwealth Equity Services Inc grew its position in Triangle Capital Co. (NYSE:TCAP) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,642 shares of the credit services provider’s stock after acquiring an additional 6,865 shares during the quarter. Commonwealth Equity Services Inc owned 0.07% of Triangle Capital worth $480,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in TCAP. WFG Advisors LP bought a new stake in shares of Triangle Capital in the 2nd quarter worth approximately $101,000. Commerce Bank bought a new stake in shares of Triangle Capital in the 3rd quarter worth approximately $171,000. Sigma Planning Corp bought a new stake in shares of Triangle Capital in the 2nd quarter worth approximately $181,000. Wasatch Advisors Inc. bought a new stake in shares of Triangle Capital in the 2nd quarter worth approximately $235,000. Finally, IHT Wealth Management LLC lifted its position in shares of Triangle Capital by 11.4% in the 2nd quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after acquiring an additional 250 shares during the period. Institutional investors own 35.47% of the company’s stock.
A number of equities analysts have recently issued reports on the company. National Securities cut Triangle Capital from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $18.00 in a report on Monday, August 7th. Hilliard Lyons cut Triangle Capital from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $15.50 in a report on Monday, August 7th. BidaskClub cut Triangle Capital from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. ValuEngine raised Triangle Capital from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Jefferies Group reissued a “buy” rating and issued a $18.00 target price (down from $23.00) on shares of Triangle Capital in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Triangle Capital has a consensus rating of “Hold” and a consensus price target of $16.57.
Shares of Triangle Capital Co. (TCAP) traded down $0.04 on Friday, hitting $9.77. The stock had a trading volume of 427,399 shares, compared to its average volume of 636,428. Triangle Capital Co. has a fifty-two week low of $8.91 and a fifty-two week high of $20.35. 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 firm has a market cap of $468.34, a PE ratio of 6.09, a PEG ratio of 1.26 and a beta of 0.83.
Triangle Capital (NYSE:TCAP) last released its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.05). Triangle Capital had a negative net margin of 36.80% and a positive return on equity of 10.67%. The business had revenue of $29.88 million for the quarter, compared to analyst estimates of $32.84 million. During the same period in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. analysts anticipate that Triangle Capital Co. will post 1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 12.28%. Triangle Capital’s dividend payout ratio is -202.24%.
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Triangle Capital Company Profile
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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