Capitala Finance Corp. (CPTA) Releases Quarterly Earnings Results, Misses Estimates By $0.33 EPS
Capitala Finance Corp. (NASDAQ:CPTA) posted its quarterly earnings results on Monday. The investment management company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.33, Morningstar.com reports. Capitala Finance Corp. had a return on equity of 11.06% and a net margin of 27.75%.
Shares of Capitala Finance Corp. (NASDAQ CPTA) traded down 8.48% during mid-day trading on Tuesday, hitting $11.72. The company had a trading volume of 105,257 shares. The company has a 50-day moving average price of $13.25 and a 200-day moving average price of $13.80. Capitala Finance Corp. has a 1-year low of $11.41 and a 1-year high of $15.80.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 23rd will be paid a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.18%. The ex-dividend date is Monday, August 21st. Capitala Finance Corp.’s dividend payout ratio is currently 135.65%.
Several hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of 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 in the last quarter. UBS Group AG raised its stake in shares of 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Capitala Finance Corp. during the first quarter valued at approximately $309,000. Eagle Global Advisors LLC raised its stake in shares of Capitala Finance Corp. by 36.6% in the first quarter. Eagle Global Advisors LLC now owns 26,771 shares of the investment management company’s stock valued at $384,000 after buying an additional 7,168 shares in the last quarter. Finally, Regent Investment Management LLC raised its stake in shares of Capitala Finance Corp. by 8.4% in the second quarter. Regent Investment Management LLC now owns 33,590 shares of the investment management company’s stock valued at $437,000 after buying an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 28.58% of the company’s stock.
CPTA has been the subject of several recent analyst reports. Zacks Investment Research upgraded Capitala Finance Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price target on shares of Capitala Finance Corp. in a research note on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $17.00 price target 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 boosted their price target for the stock from $14.50 to $15.50 in a research note on Monday, May 15th. Finally, FBR & Co boosted their price target on Capitala Finance Corp. from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 9th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.44.
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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.
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