Capitala Finance Corp. (CPTA) Declares $0.08 Monthly Dividend
Capitala Finance Corp. (NASDAQ:CPTA) announced a monthly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, December 20th will be given a dividend of 0.0833 per share by the investment management company on Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.92%. The ex-dividend date is Tuesday, December 19th.
Shares of Capitala Finance Corp. (CPTA) traded down 8.04% during midday trading on Tuesday, hitting $9.15. 570,617 shares of the stock were exchanged. The stock’s 50-day moving average price is $9.13 and its 200-day moving average price is $12.39. Capitala Finance Corp. has a 1-year low of $8.67 and a 1-year high of $14.65.
Capitala Finance Corp. (NASDAQ:CPTA) last released its earnings results on Monday, August 7th. The investment management company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.33). Capitala Finance Corp. had a net margin of 8.91% and a return on equity of 8.55%. The company had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $15.11 million. Equities research analysts expect that Capitala Finance Corp. will post $1.27 EPS for the current fiscal year.
In other Capitala Finance Corp. news, insider John F. Mcglinn acquired 4,444 shares of Capitala Finance Corp. stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $9.00 per share, for a total transaction of $39,996.00. Following the purchase, the insider now owns 112,485 shares of the company’s stock, valued at $1,012,365. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Markham Hunt Broyhill acquired 5,098 shares of Capitala Finance Corp. stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $11.00 per share, with a total value of $56,078.00. Following the completion of the purchase, the director now directly owns 81,038 shares in the company, valued at approximately $891,418. The disclosure for this purchase can be found here. Insiders have purchased a total of 30,842 shares of company stock worth $290,851 over the last 90 days. 8.40% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on CPTA. TheStreet cut shares of Capitala Finance Corp. from a “b-” rating to a “c+” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Capitala Finance Corp. from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. Ladenburg Thalmann Financial Services reissued a “neutral” rating on shares of Capitala Finance Corp. in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $14.00 target price on shares of Capitala Finance Corp. in a research report on Friday, September 22nd. Finally, ValuEngine lowered Capitala Finance Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.89.
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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