Capitala Finance Corp. (NASDAQ:CPTA) Upgraded at Zacks Investment Research
Capitala Finance Corp. (NASDAQ:CPTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Capitala Finance Corp. is a business development company. The company invests primarily in traditional mezzanine, senior subordinated and unitranche debt, senior and second-lien loans and equity securities. Capitala Finance Corp. is headquartered in Charlotte, United States. “
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Capitala Finance Corp. from a “c” rating to a “b-” rating in a research note on Friday, April 7th. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price on shares of Capitala Finance Corp. in a research note on Wednesday, April 19th. Wunderlich upgraded Capitala Finance Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $14.50 to $15.50 in a research note on Monday, May 15th. Keefe, Bruyette & Woods set a $15.00 target price on Capitala Finance Corp. and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, FBR & Co increased their target price on Capitala Finance Corp. from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, May 9th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.50.
Shares of Capitala Finance Corp. (NASDAQ CPTA) traded up 0.46% during mid-day trading on Tuesday, hitting $13.22. 31,770 shares of the stock traded hands. Capitala Finance Corp. has a one year low of $11.51 and a one year high of $15.80. The stock has a 50-day moving average of $13.53 and a 200 day moving average of $13.82.
Capitala Finance Corp. (NASDAQ:CPTA) last released its earnings results on Monday, May 8th. The investment management company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $14.82 million during the quarter, compared to analysts’ expectations of $16.23 million. Capitala Finance Corp. had a return on equity of 11.06% and a net margin of 27.75%. On average, equities analysts predict that Capitala Finance Corp. will post $1.57 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 23rd will be paid a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 11.80%. The ex-dividend date is Monday, August 21st. Capitala Finance Corp.’s dividend payout ratio (DPR) is presently 135.65%.
Institutional investors have recently made changes to their positions in the company. Wilbanks Smith & Thomas Asset Management LLC purchased a new position in shares of Capitala Finance Corp. during the first quarter valued at approximately $5,260,000. Muzinich & Co. Inc. boosted its stake in Capitala Finance Corp. by 70.6% in the first quarter. Muzinich & Co. Inc. now owns 542,130 shares of the investment management company’s stock valued at $7,785,000 after buying an additional 224,330 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Capitala Finance Corp. by 74.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,592 shares of the investment management company’s stock valued at $5,235,000 after buying an additional 155,815 shares during the period. Confluence Investment Management LLC boosted its stake in Capitala Finance Corp. by 92.0% in the first quarter. Confluence Investment Management LLC now owns 164,137 shares of the investment management company’s stock valued at $2,357,000 after buying an additional 78,642 shares during the period. Finally, UBS Group AG boosted its stake in Capitala Finance Corp. by 15.0% in the first quarter. UBS Group AG now owns 436,838 shares of the investment management company’s stock valued at $6,273,000 after buying an additional 56,890 shares during the period. Hedge funds and other institutional investors own 31.59% of the company’s stock.
About Capitala Finance Corp.
Capitala Finance Corp. is an externally managed non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. Both directly and through its subsidiaries that are licensed by the United States Small Business Administration (SBA), the Company offers financing to business owners, management teams and financial sponsors for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Capitala Finance Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capitala Finance Corp. and related companies with MarketBeat.com's FREE daily email newsletter.