ValuEngine cut shares of Triangle Capital Corporation (NYSE:TCAP) from a buy rating to a hold rating in a research note published on Friday, June 30th.
TCAP has been the topic of a number of other reports. National Securities reiterated a buy rating and issued a $22.00 price target on shares of Triangle Capital Corporation in a report on Monday, April 10th. Zacks Investment Research downgraded Triangle Capital Corporation from a hold rating to a sell rating in a research note on Wednesday, April 26th. Jefferies Group LLC restated a buy rating and set a $23.00 target price on shares of Triangle Capital Corporation in a research note on Friday, May 5th. Wunderlich started coverage on Triangle Capital Corporation in a research note on Wednesday, May 17th. They set a buy rating and a $23.00 target price 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 note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $21.40.
Shares of Triangle Capital Corporation (NYSE:TCAP) traded down 0.63% during mid-day trading on Friday, hitting $17.36. 175,912 shares of the stock traded hands. The firm’s 50-day moving average is $17.58 and its 200-day moving average is $18.51. Triangle Capital Corporation has a 52 week low of $16.40 and a 52 week high of $20.35. The stock has a market cap of $827.74 million, a price-to-earnings ratio of 23.15 and a beta of 0.90.
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In other news, insider C. Robert Jr. Knox sold 3,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $17.72, for a total value of $53,160.00. Following the completion of the transaction, the insider now owns 75,716 shares of the company’s stock, valued at approximately $1,341,687.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted its position in Triangle Capital Corporation by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,788,633 shares of the credit services provider’s stock worth $34,145,000 after buying an additional 873,912 shares during the last quarter. Wells Fargo & Company MN raised its stake in Triangle Capital Corporation by 19.2% in the first quarter. Wells Fargo & Company MN now owns 1,378,214 shares of the credit services provider’s stock valued at $26,310,000 after buying an additional 221,823 shares during the period. UBS Group AG raised its stake in Triangle Capital Corporation by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock valued at $15,872,000 after buying an additional 268,535 shares during the period. Confluence Investment Management LLC raised its stake in Triangle Capital Corporation by 7.8% in the first quarter. Confluence Investment Management LLC now owns 513,924 shares of the credit services provider’s stock valued at $9,811,000 after buying an additional 37,140 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Triangle Capital Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 427,831 shares of the credit services provider’s stock valued at $7,846,000 after buying an additional 57,948 shares during the period. 31.29% of the stock is owned by institutional investors.
About Triangle Capital Corporation
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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