Ladenburg Thalmann upgraded shares of Capitala Finance Corp. (NASDAQ:CPTA) from a neutral rating to a buy rating in a research report released on Thursday. The brokerage currently has $14.75 price objective on the investment management company’s stock.
Several other research analysts have also recently weighed in on the company. Wunderlich cut Capitala Finance Corp. from a buy rating to a hold rating and decreased their price target for the stock from $15.50 to $14.50 in a research note on Friday, September 23rd. Zacks Investment Research upgraded Capitala Finance Corp. from a sell rating to a hold rating in a research note on Wednesday, August 31st. JMP Securities cut Capitala Finance Corp. from an outperform rating to a market perform rating in a research note on Friday, September 23rd. FBR & Co boosted their price target on Capitala Finance Corp. from $14.00 to $15.00 and gave the stock a mkt perform rating in a research note on Wednesday, August 10th. Finally, TheStreet upgraded Capitala Finance Corp. from a sell rating to a hold rating in a research note on Monday, September 26th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $16.00.
Shares of Capitala Finance Corp. (NASDAQ:CPTA) opened at 13.47 on Thursday. Capitala Finance Corp. has a 12-month low of $9.54 and a 12-month high of $15.80. The firm has a 50 day moving average price of $14.25 and a 200 day moving average price of $13.98.
Capitala Finance Corp. (NASDAQ:CPTA) last posted its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.47 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Capitala Finance Corp. had a return on equity of 11.23% and a net margin of 3.04%. On average, equities analysts predict that Capitala Finance Corp. will post $1.84 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, December 21st will be issued a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 11.58%. The ex-dividend date is Monday, December 19th. Capitala Finance Corp.’s payout ratio is currently 1,709.09%.
Several hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake 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 valued at $11,082,000 after buying an additional 88,295 shares during the last quarter. Nuveen Fund Advisors LLC purchased a new stake in shares of Capitala Finance Corp. during the second quarter valued at approximately $1,019,000. Finally, BlackRock Group LTD raised its stake 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 valued at $1,184,000 after buying an additional 10,753 shares during the last quarter. 22.84% of the stock is 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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