Janney Montgomery Scott LLC Lowers Position in Triangle Capital Co. (TCAP)
Janney Montgomery Scott LLC lowered its stake in shares of Triangle Capital Co. (NYSE:TCAP) by 39.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,286 shares of the credit services provider’s stock after selling 15,080 shares during the period. Janney Montgomery Scott LLC’s holdings in Triangle Capital were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Caxton Corp lifted its holdings in Triangle Capital by 20.3% during the first quarter. Caxton Corp now owns 48,831 shares of the credit services provider’s stock worth $543,000 after buying an additional 8,251 shares during the period. LPL Financial LLC lifted its holdings in Triangle Capital by 36.8% during the first quarter. LPL Financial LLC now owns 38,034 shares of the credit services provider’s stock worth $423,000 after buying an additional 10,224 shares during the period. Brown Advisory Inc. purchased a new stake in Triangle Capital during the first quarter worth $120,000. Bank of New York Mellon Corp purchased a new stake in Triangle Capital during the fourth quarter worth $113,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Triangle Capital during the first quarter worth $136,000. Institutional investors own 50.10% of the company’s stock.
A number of brokerages have recently issued reports on TCAP. Zacks Investment Research raised Triangle Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. National Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Triangle Capital in a research report on Monday, May 7th. Finally, ValuEngine downgraded Triangle Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.90.
The firm also recently declared a special dividend, which was paid on Friday, August 3rd. Stockholders of record on Thursday, August 2nd were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Monday, August 6th. This is an increase from Triangle Capital’s previous special dividend of $0.05. Triangle Capital’s dividend payout ratio is presently 77.42%.
About Triangle Capital
Triangle Capital Corporation is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies.
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