Bard Associates Inc. Acquires Shares of 16,007 Triangle Capital Corporation (TCAP)

Bard Associates Inc. acquired a new stake in Triangle Capital Corporation (NYSE:TCAP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,007 shares of the credit services provider’s stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HL Financial Services LLC grew its holdings in Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock valued at $217,000 after purchasing an additional 300 shares during the period. Baird Financial Group Inc. grew its holdings in Triangle Capital Corporation by 3.0% in the first quarter. Baird Financial Group Inc. now owns 32,715 shares of the credit services provider’s stock valued at $625,000 after purchasing an additional 939 shares during the period. Creative Planning grew its holdings in Triangle Capital Corporation by 27.9% in the second quarter. Creative Planning now owns 18,089 shares of the credit services provider’s stock valued at $319,000 after purchasing an additional 3,945 shares during the period. LSV Asset Management grew its holdings in Triangle Capital Corporation by 3.0% in the first quarter. LSV Asset Management now owns 144,300 shares of the credit services provider’s stock valued at $2,754,000 after purchasing an additional 4,200 shares during the period. Finally, Allen Investment Management LLC grew its holdings in Triangle Capital Corporation by 9.9% in the second quarter. Allen Investment Management LLC now owns 48,184 shares of the credit services provider’s stock valued at $849,000 after purchasing an additional 4,358 shares during the period. 31.38% of the stock is currently owned by institutional investors.

TCAP has been the topic of several research analyst reports. Robert W. Baird raised Triangle Capital Corporation from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a report on Monday, August 28th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 target price (down previously from $23.00) on shares of Triangle Capital Corporation in a research report on Wednesday, August 9th. ValuEngine downgraded Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Aegis assumed coverage on Triangle Capital Corporation in a research report on Monday, June 26th. They issued a “buy” rating on the stock. Finally, Hilliard Lyons upgraded Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $18.36.

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Triangle Capital Corporation (TCAP) opened at 13.42 on Wednesday. The company’s 50-day moving average price is $14.54 and its 200-day moving average price is $17.34. Triangle Capital Corporation has a 12 month low of $12.84 and a 12 month high of $20.35. The stock has a market cap of $640.74 million, a P/E ratio of 27.90 and a beta of 0.92.

Triangle Capital Corporation (NYSE:TCAP) last announced its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $31.20 million for the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. Triangle Capital Corporation’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Equities analysts forecast that Triangle Capital Corporation will post $1.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 13.41%. The ex-dividend date is Friday, September 1st. Triangle Capital Corporation’s dividend payout ratio (DPR) is presently 346.16%.

In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the sale, the insider now owns 75,716 shares in the company, valued at approximately $1,341,687.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Triangle Capital Corporation 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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Institutional Ownership by Quarter for Triangle Capital Corporation (NYSE:TCAP)

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