Capitala Finance Corp. (NASDAQ:CPTA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Several other equities analysts also recently commented on CPTA. Barclays PLC set a $15.00 price target on shares of Capitala Finance Corp. and gave the company a “buy” rating in a research note on Thursday, August 11th. Deutsche Bank AG upped their price target on shares of Capitala Finance Corp. from $14.75 to $16.25 and gave the company a “buy” rating in a research note on Friday, August 12th. FBR & Co set a $15.00 price target on shares of Capitala Finance Corp. and gave the company a “hold” rating in a research note on Friday, September 23rd. Jefferies Group set a $17.00 price target on shares of Capitala Finance Corp. and gave the company a “buy” rating in a research note on Tuesday, November 8th. Finally, Oppenheimer Holdings Inc. downgraded shares of Capitala Finance Corp. from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a research note on Thursday, November 10th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Capitala Finance Corp. presently has an average rating of “Hold” and an average price target of $15.39.
Capitala Finance Corp. (NASDAQ:CPTA) opened at 12.03 on Wednesday. The firm has a 50 day moving average of $12.76 and a 200-day moving average of $13.86. Capitala Finance Corp. has a 52 week low of $9.54 and a 52 week high of $15.80. The company has a market capitalization of $190.42 million, a P/E ratio of 90.45 and a beta of 1.09.
Capitala Finance Corp. (NASDAQ:CPTA) last issued its quarterly earnings data on Tuesday, November 8th. The investment management company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Capitala Finance Corp. had a negative net margin of 11.51% and a positive return on equity of 11.51%. On average, analysts forecast that Capitala Finance Corp. will post $1.80 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 21st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.97%. Capitala Finance Corp.’s payout ratio is currently -305.88%.
In related news, Director Larry W. Carroll purchased 7,000 shares of Capitala Finance Corp. stock in a transaction dated Tuesday, November 15th. The shares were bought at an average cost of $12.01 per share, for a total transaction of $84,070.00. Following the purchase, the director now owns 80,000 shares in the company, valued at approximately $960,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.40% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Cetera Advisor Networks LLC increased its stake in Capitala Finance Corp. by 9.6% in the third quarter. Cetera Advisor Networks LLC now owns 24,651 shares of the investment management company’s stock worth $323,000 after buying an additional 2,164 shares during the last quarter. Susquehanna International Group LLP raised its position in shares of Capitala Finance Corp. by 42.3% in the third quarter. Susquehanna International Group LLP now owns 43,785 shares of the investment management company’s stock worth $574,000 after buying an additional 13,010 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Capitala Finance Corp. during the third quarter worth about $869,000. Nuveen Fund Advisors LLC acquired a new position in shares of Capitala Finance Corp. during the second quarter worth about $1,019,000. Finally, BlackRock Group LTD raised its position in shares of Capitala Finance Corp. by 2.4% in the first quarter. BlackRock Group LTD now owns 73,811 shares of the investment management company’s stock worth $886,000 after buying an additional 1,719 shares during the period. Institutional investors own 22.84% of the company’s stock.
About Capitala Finance Corp.
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.