Short Interest in Triangle Capital Corporation (TCAP) Expands By 174.1%
Triangle Capital Corporation (NYSE:TCAP) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 1,378,694 shares, an increase of 174.1% from the October 13th total of 503,065 shares. Based on an average daily volume of 552,407 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.0% of the shares of the stock are sold short.
Shares of Triangle Capital Corporation (NYSE:TCAP) opened at $9.70 on Tuesday. The firm has a market capitalization of $458.79, a PE ratio of 5.97, a P/E/G ratio of 1.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 56.98 and a quick ratio of 56.98. Triangle Capital Corporation has a 12 month low of $8.91 and a 12 month high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last released its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million during the quarter, compared to analyst estimates of $32.84 million. Triangle Capital Corporation had a negative net margin of 36.80% and a positive return on equity of 10.67%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. equities analysts predict that Triangle Capital Corporation will post 1.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 12.37%. The ex-dividend date is Tuesday, December 5th. Triangle Capital Corporation’s dividend payout ratio (DPR) is presently -200.00%.
A number of institutional investors have recently bought and sold shares of TCAP. State of New Jersey Common Pension Fund D raised its position in Triangle Capital Corporation by 262.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,450,000 shares of the credit services provider’s stock valued at $20,706,000 after purchasing an additional 1,050,000 shares during the last quarter. Wells Fargo & Company MN raised its position in Triangle Capital Corporation by 36.4% in the third quarter. Wells Fargo & Company MN now owns 1,952,522 shares of the credit services provider’s stock valued at $27,882,000 after purchasing an additional 521,430 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in Triangle Capital Corporation in the third quarter valued at about $3,075,000. Novare Capital Management LLC bought a new position in Triangle Capital Corporation in the second quarter valued at about $3,554,000. Finally, Muzinich & Co. Inc. raised its position in Triangle Capital Corporation by 8.8% in the second quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock valued at $34,290,000 after purchasing an additional 157,458 shares during the last quarter. Hedge funds and other institutional investors own 33.84% of the company’s stock.
Several research firms have recently issued reports on TCAP. ValuEngine raised Triangle Capital Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. JMP Securities lowered Triangle Capital Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods lowered Triangle Capital Corporation from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $20.50 to $18.00 in a report on Thursday, August 3rd. National Securities lowered Triangle Capital Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $18.00 in a report on Monday, August 7th. Finally, Hilliard Lyons lowered Triangle Capital Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $15.50 in a report on Monday, August 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Triangle Capital Corporation has a consensus rating of “Hold” and a consensus target price of $16.57.
About Triangle Capital Corporation
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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