Triangle Capital Co. (TCAP) Shares Bought by Ares Management LLC
Ares Management LLC grew its stake in Triangle Capital Co. (NYSE:TCAP) by 107.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 942,770 shares of the credit services provider’s stock after acquiring an additional 487,910 shares during the period. Triangle Capital accounts for about 0.3% of Ares Management LLC’s investment portfolio, making the stock its 14th biggest position. Ares Management LLC’s holdings in Triangle Capital were worth $8,947,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Landscape Capital Management L.L.C. bought a new position in shares of Triangle Capital in the fourth quarter worth about $272,000. KDI Capital Partners LLC bought a new stake in shares of Triangle Capital during the fourth quarter worth approximately $6,195,000. State of Tennessee Treasury Department bought a new stake in shares of Triangle Capital during the fourth quarter worth approximately $211,000. Baird Financial Group Inc. raised its stake in shares of Triangle Capital by 45.8% during the fourth quarter. Baird Financial Group Inc. now owns 33,645 shares of the credit services provider’s stock worth $319,000 after buying an additional 10,566 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Triangle Capital by 3,985.8% during the fourth quarter. Citadel Advisors LLC now owns 1,747,297 shares of the credit services provider’s stock worth $16,582,000 after buying an additional 1,704,532 shares during the last quarter. 37.74% of the stock is owned by institutional investors.
TCAP has been the subject of a number of recent research reports. National Securities dropped their price target on shares of Triangle Capital from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Jefferies Group downgraded shares of Triangle Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. TheStreet downgraded shares of Triangle Capital from a “c” rating to a “d+” rating in a research note on Friday, November 17th. ValuEngine raised shares of Triangle Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, UBS Group raised shares of Triangle Capital from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Triangle Capital has a consensus rating of “Hold” and an average price target of $15.00.
Triangle Capital (NYSE:TCAP) last issued its quarterly earnings data 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. The firm had revenue of $31.70 million during the quarter, compared to analysts’ expectations of $28.85 million. Triangle Capital had a negative net margin of 23.29% and a positive return on equity of 10.48%. During the same quarter in the previous year, the company earned $0.46 earnings per share. equities analysts forecast that Triangle Capital Co. will post 1.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date of this dividend is Tuesday, March 13th. Triangle Capital’s dividend payout ratio is currently -210.52%.
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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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