Triangle Capital Corporation (TCAP) was Initiated by Hilliard Lyons to “Buy”. Hilliard Lyons advised their investors in a research report released on Sep 28, 2016.
On the company’s financial health, Triangle Capital Corporation reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.48. The company had revenue of $28.40 million for the quarter, compared to analysts expectations of $28.03 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Triangle Capital Corporation opened for trading at $19.08 and hit $19.3466 on the upside on Tuesday, eventually ending the session at $19.32, with a gain of 0.57% or 0.11 points. The heightened volatility saw the trading volume jump to 1,43,380 shares. Company has a market cap of $770 M.
In a different news, on May 10, 2016, Simon B. Jr. Rich (director) purchased 5,000 shares at $17.30 per share price. According to the SEC, on May 10, 2016, Sherwood Hubbard Jr. Smith (director) purchased 4,000 shares at $17.12 per share price. On May 9, 2016, E. Ashton Poole (CEO) purchased 28,600 shares at $17.60 per share price, according to the Form-4 filing with the securities and exchange commission.
Triangle Capital Corporation is a specialty finance company that provides customized financing to lower middle market companies. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments. It invests primarily in subordinated debt securities secured by second lien security interests in portfolio company assets coupled with equity interests. It also invests in senior debt securities secured by first lien security interests in portfolio companies. Its investment portfolio consists of debt and equity instruments of privately held companies for which quoted prices or other inputs falling within the categories of Level 1 and Level 2 are not available. Its target portfolio company has annual revenues between $20.0 million and $200.0 million and annual earnings before interest taxes depreciation and amortization (EBITDA) between $3.0 million and $35.0 million.