Greenwich Investment Management Inc. raised its stake in shares of Triangle Capital Co. (NYSE:TCAP) by 114.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,484 shares of the credit services provider’s stock after buying an additional 145,116 shares during the period. Triangle Capital accounts for approximately 3.7% of Greenwich Investment Management Inc.’s portfolio, making the stock its 12th biggest holding. Greenwich Investment Management Inc. owned 0.57% of Triangle Capital worth $2,576,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in Triangle Capital by 59.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,299 shares of the credit services provider’s stock valued at $547,000 after buying an additional 14,305 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Triangle Capital by 126.0% during the third quarter. Wasatch Advisors Inc. now owns 30,134 shares of the credit services provider’s stock valued at $430,000 after buying an additional 16,800 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in Triangle Capital during the fourth quarter valued at about $457,000. Mckinley Capital Management LLC Delaware bought a new position in Triangle Capital during the third quarter valued at about $3,075,000. Finally, TCW Group Inc. raised its holdings in Triangle Capital by 124.7% during the fourth quarter. TCW Group Inc. now owns 313,529 shares of the credit services provider’s stock valued at $2,976,000 after buying an additional 174,011 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.
Several research firms have weighed in on TCAP. Zacks Investment Research lowered Triangle Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 7th. National Securities restated a “neutral” rating and set a $11.00 target price on shares of Triangle Capital in a report on Friday, March 2nd. ValuEngine lowered Triangle Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 target price on shares of Triangle Capital in a report on Thursday, March 1st. Finally, Raymond James Financial raised Triangle Capital from an “underperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.00.
Triangle Capital (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, February 28th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The company had revenue of $31.70 million for the quarter, compared to the consensus estimate of $28.85 million. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 23.29%. During the same period last year, the business posted $0.46 earnings per share. sell-side analysts predict that Triangle Capital Co. will post 1.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date of this dividend is Tuesday, March 13th. Triangle Capital’s dividend payout ratio (DPR) is presently -210.52%.
Triangle Capital Company Profile
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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