Capitala Finance Corp. (NASDAQ:CPTA) was downgraded by Wunderlich from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a $14.50 price objective on the investment management company’s stock, down from their previous price objective of $15.50. Wunderlich’s price objective indicates a potential upside of 10.60% from the company’s previous close.
CPTA has been the topic of several other research reports. Zacks Investment Research cut Capitala Finance Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 12th. Barclays PLC set a $15.00 target price on Capitala Finance Corp. and gave the company a “buy” rating in a research report on Thursday, August 11th. Deutsche Bank AG lifted their target price on Capitala Finance Corp. from $14.75 to $16.25 and gave the company a “buy” rating in a research report on Friday, August 12th. FBR & Co lifted their target price on Capitala Finance Corp. from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research report on Wednesday, August 10th. Finally, JMP Securities cut Capitala Finance Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Capitala Finance Corp. presently has a consensus rating of “Hold” and an average target price of $16.13.
Shares of Capitala Finance Corp. (NASDAQ:CPTA) opened at 13.11 on Friday. Capitala Finance Corp. has a 1-year low of $9.54 and a 1-year high of $15.80. The company has a 50-day moving average price of $14.81 and a 200-day moving average price of $13.86.
Capitala Finance Corp. (NASDAQ:CPTA) last announced its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. Capitala Finance Corp. had a return on equity of 11.23% and a net margin of 3.04%. Analysts forecast that Capitala Finance Corp. will post $1.85 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 29th. Shareholders 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 yield of 11.90%. Capitala Finance Corp.’s dividend payout ratio is currently 1,709.09%.
A number of institutional investors have recently made changes to their positions in CPTA. Nuveen Fund Advisors LLC acquired a new position in shares of Capitala Finance Corp. during the second quarter worth $1,019,000. BlackRock Group LTD raised its position in shares of Capitala Finance Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 84,564 shares of the investment management company’s stock worth $1,184,000 after buying an additional 10,753 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Capitala Finance Corp. by 12.6% in the second quarter. Advisors Asset Management Inc. now owns 791,589 shares of the investment management company’s stock worth $11,082,000 after buying an additional 88,295 shares in the last quarter. Institutional investors and hedge funds own 22.84% of the company’s stock.
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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