Zacks Investment Research upgraded shares of Capitala Finance Corp. (NASDAQ:CPTA) from a strong sell rating to a hold rating in a report released on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Capitala Finance Corp. from a b- rating to a c+ rating in a research note on Tuesday, August 8th. ValuEngine cut shares of Capitala Finance Corp. from a buy rating to a hold rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services reissued a neutral rating on shares of Capitala Finance Corp. in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reissued a buy rating and issued a $14.00 target price on shares of Capitala Finance Corp. in a research note on Friday, September 22nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Capitala Finance Corp. currently has an average rating of Hold and a consensus target price of $14.92.
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 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 firm had revenue of $12.36 million during the quarter, compared to the consensus estimate of $15.11 million.
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The firm also recently declared a monthly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 20th will be issued a dividend of $0.0833 per share. This represents a $1.00 annualized dividend and a yield of 10.85%. The ex-dividend date of this dividend is Tuesday, December 19th. Capitala Finance Corp.’s dividend payout ratio is 458.82%.
In other Capitala Finance Corp. news, Director Larry W. Carroll purchased 20,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $9.15 per share, with a total value of $183,000.00. Following the acquisition, the director now directly owns 82,150 shares of the company’s stock, valued at approximately $751,672.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John F. Mcglinn purchased 4,444 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $9.00 per share, with a total value of $39,996.00. Following the acquisition, the insider now directly owns 112,485 shares in the company, valued at $1,012,365. The disclosure for this purchase can be found here. Insiders have acquired a total of 30,842 shares of company stock valued at $290,851 in the last ninety days. Insiders own 8.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CPTA. UBS Group AG lifted its holdings in Capitala Finance Corp. by 15.0% during the 1st quarter. UBS Group AG now owns 436,838 shares of the investment management company’s stock valued at $6,273,000 after purchasing an additional 56,890 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Capitala Finance Corp. by 160.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,527 shares of the investment management company’s stock valued at $496,000 after purchasing an additional 21,265 shares during the last quarter. Regent Investment Management LLC lifted its holdings in Capitala Finance Corp. by 8.4% during the 2nd quarter. Regent Investment Management LLC now owns 33,590 shares of the investment management company’s stock valued at $437,000 after purchasing an additional 2,600 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Capitala Finance Corp. during the 2nd quarter valued at $149,000. Finally, Acadian Asset Management LLC lifted its holdings in Capitala Finance Corp. by 73.1% during the 2nd quarter. Acadian Asset Management LLC now owns 37,215 shares of the investment management company’s stock valued at $483,000 after purchasing an additional 15,716 shares during the last quarter. 28.24% of the stock is owned by institutional investors and hedge funds.
Capitala Finance Corp. 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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