First Manhattan Co. Has $12.42 Million Stake in Capital Southwest Corporation (CSWC)
First Manhattan Co. trimmed its holdings in shares of Capital Southwest Corporation (NASDAQ:CSWC) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 725,224 shares of the asset manager’s stock after selling 43,759 shares during the quarter. First Manhattan Co. owned 4.53% of Capital Southwest Corporation worth $12,423,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of Capital Southwest Corporation during the second quarter worth about $179,000. JPMorgan Chase & Co. increased its position in shares of Capital Southwest Corporation by 8.3% during the second quarter. JPMorgan Chase & Co. now owns 15,722 shares of the asset manager’s stock worth $253,000 after acquiring an additional 1,207 shares during the last quarter. Steinberg Global Asset Management increased its position in shares of Capital Southwest Corporation by 8.1% during the second quarter. Steinberg Global Asset Management now owns 16,020 shares of the asset manager’s stock worth $258,000 after acquiring an additional 1,200 shares during the last quarter. Bard Associates Inc. purchased a new stake in shares of Capital Southwest Corporation during the second quarter worth about $263,000. Finally, Wedbush Securities Inc. increased its position in shares of Capital Southwest Corporation by 27.5% during the second quarter. Wedbush Securities Inc. now owns 21,804 shares of the asset manager’s stock worth $351,000 after acquiring an additional 4,700 shares during the last quarter. 62.05% of the stock is currently owned by institutional investors and hedge funds.
CSWC has been the topic of a number of analyst reports. Zacks Investment Research raised Capital Southwest Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine lowered Capital Southwest Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Robert W. Baird initiated coverage on Capital Southwest Corporation in a research report on Wednesday, August 30th. They set an “outperform” rating and a $19.00 target price on the stock. National Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Capital Southwest Corporation in a research report on Monday, October 23rd. Finally, BidaskClub raised Capital Southwest Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $20.25.
In related news, major shareholder Moab Capital Partners Llc sold 53,270 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $17.30, for a total value of $921,571.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.
Capital Southwest Corporation (NASDAQ:CSWC) opened at 17.32 on Wednesday. The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $16.47. The firm has a market capitalization of $277.22 million, a P/E ratio of 10.51 and a beta of -0.51. Capital Southwest Corporation has a 1-year low of $13.81 and a 1-year high of $17.76.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.54%. The ex-dividend date was Thursday, September 14th. This is a positive change from Capital Southwest Corporation’s previous quarterly dividend of $0.21. Capital Southwest Corporation’s dividend payout ratio is 58.54%.
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Capital Southwest Corporation Company Profile
Capital Southwest Corporation is an investment company that specializes in providing customized financing to middle market companies in a range of industry segments located primarily in the United States. The Company is a specialty lending company. Its principal investment objective is to produce risk-adjusted returns by generating current income from debt investments and capital appreciation from its equity and equity related investments.
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