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 Friday.
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. “
CPTA has been the topic of a number of other reports. Jefferies Group LLC reissued a buy rating and issued a $14.00 price objective on shares of Capitala Finance Corp. in a research note on Friday, September 22nd. Ladenburg Thalmann Financial Services reissued a neutral rating on shares of Capitala Finance Corp. in a research note on Thursday, August 10th. ValuEngine downgraded Capitala Finance Corp. from a buy rating to a hold rating in a research report on Friday, September 1st. TheStreet downgraded Capitala Finance Corp. from a b- rating to a c+ rating in a research report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $9.50 price target on shares of Capitala Finance Corp. in a research report on Friday, November 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $13.50.
Shares of Capitala Finance Corp. (NASDAQ:CPTA) traded up $0.01 during mid-day trading on Friday, hitting $7.61. The company had a trading volume of 237,126 shares, compared to its average volume of 117,774. The company has a debt-to-equity ratio of 1.29, a current ratio of 21.58 and a quick ratio of 21.58. Capitala Finance Corp. has a 1-year low of $7.43 and a 1-year high of $14.65. The company has a market cap of $121.12, a P/E ratio of 6.78 and a beta of 1.02.
Capitala Finance Corp. (NASDAQ:CPTA) last issued its quarterly earnings data on Monday, November 6th. The investment management company reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. Capitala Finance Corp. had a return on equity of 7.49% and a net margin of 3.04%. The business had revenue of $12.31 million for the quarter, compared to the consensus estimate of $12.42 million. sell-side analysts predict that Capitala Finance Corp. will post 0.96 earnings per share for the current fiscal year.
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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 given a $0.0833 dividend. This represents a $1.00 annualized dividend and a yield of 13.14%. The ex-dividend date of this dividend is Tuesday, December 19th. Capitala Finance Corp.’s dividend payout ratio is currently 909.09%.
In other Capitala Finance Corp. news, insider Joseph B. Alala III purchased 89,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $7.77 per share, with a total value of $691,530.00. Following the transaction, the insider now directly owns 9,611 shares in the company, valued at approximately $74,677.47. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Larry W. Carroll purchased 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $7.62 per share, for a total transaction of $76,200.00. Following the completion of the transaction, the director now owns 110,000 shares in the company, valued at $838,200. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 99,200 shares of company stock worth $769,552. Company insiders own 8.40% of the company’s stock.
Several large investors have recently made changes to their positions in CPTA. BB&T Securities LLC grew its holdings in shares of Capitala Finance Corp. by 24.8% during the 3rd quarter. BB&T Securities LLC now owns 207,610 shares of the investment management company’s stock worth $1,980,000 after purchasing an additional 41,262 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Capitala Finance Corp. during the 2nd quarter worth approximately $454,000. Carroll Financial Associates Inc. grew its holdings in shares of Capitala Finance Corp. by 28.9% during the 3rd quarter. Carroll Financial Associates Inc. now owns 103,133 shares of the investment management company’s stock worth $941,000 after purchasing an additional 23,133 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $496,000 after purchasing an additional 21,265 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Capitala Finance Corp. by 396.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 24,609 shares of the investment management company’s stock worth $320,000 after purchasing an additional 19,650 shares in the last quarter. 25.77% of the stock is currently owned by institutional investors.
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.
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