Capitala Finance (NASDAQ:CPTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
A number of other brokerages also recently issued reports on CPTA. ValuEngine downgraded shares of Capitala Finance from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Jefferies Group downgraded shares of Capitala Finance from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $9.50 price objective on shares of Capitala Finance in a research report on Friday, November 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Capitala Finance presently has a consensus rating of “Hold” and a consensus target price of $13.50.
Capitala Finance (NASDAQ:CPTA) last issued its quarterly earnings data on Monday, November 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Capitala Finance had a net margin of 3.04% and a return on equity of 7.49%. The firm had revenue of $12.31 million during the quarter, compared to the consensus estimate of $12.42 million. sell-side analysts expect that Capitala Finance will post 0.98 earnings per share for the current fiscal year.
In other news, insider Joseph B. Alala III bought 89,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $7.77 per share, with a total value of $691,530.00. Following the acquisition, the insider now owns 9,611 shares of the company’s stock, valued at approximately $74,677.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry W. Carroll bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was purchased at an average cost of $7.50 per share, with a total value of $75,000.00. Following the acquisition, the director now directly owns 130,000 shares in the company, valued at approximately $975,000. The disclosure for this purchase can be found here. Insiders purchased a total of 119,520 shares of company stock valued at $922,892 in the last ninety days. 8.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of CPTA. Russell Investments Group Ltd. bought a new position in Capitala Finance in the 2nd quarter worth $149,000. GSA Capital Partners LLP bought a new position in Capitala Finance in the 2nd quarter worth $150,000. JPMorgan Chase & Co. boosted its holdings in Capitala Finance by 396.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 24,609 shares of the investment management company’s stock worth $320,000 after buying an additional 19,650 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Capitala Finance in the 2nd quarter worth $454,000. Finally, Carroll Financial Associates Inc. boosted its holdings in Capitala Finance by 28.9% in the 3rd quarter. Carroll Financial Associates Inc. now owns 103,133 shares of the investment management company’s stock worth $941,000 after buying an additional 23,133 shares during the period. 19.30% of the stock is owned by institutional investors.
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Capitala Finance Company Profile
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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