Advisors Asset Management Inc. reduced its position in Capitala Finance Corp. (NASDAQ:CPTA) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 517,755 shares of the investment management company’s stock after selling 69,796 shares during the period. Advisors Asset Management Inc.’s holdings in Capitala Finance Corp. were worth $6,736,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in CPTA. Muzinich & Co. Inc. increased its stake in shares of Capitala Finance Corp. by 70.6% in the first quarter. Muzinich & Co. Inc. now owns 542,130 shares of the investment management company’s stock worth $7,785,000 after buying an additional 224,330 shares during the last quarter. UBS Group AG increased its stake in shares of Capitala Finance Corp. by 15.0% in the first quarter. UBS Group AG now owns 436,838 shares of the investment management company’s stock worth $6,273,000 after buying an additional 56,890 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Capitala Finance Corp. during the first quarter worth $5,260,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Capitala Finance Corp. by 74.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,592 shares of the investment management company’s stock worth $5,235,000 after buying an additional 155,815 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Capitala Finance Corp. by 73.1% in the second quarter. Acadian Asset Management LLC now owns 37,215 shares of the investment management company’s stock worth $483,000 after buying an additional 15,716 shares in the last quarter. 28.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Capitala Finance Corp. (NASDAQ:CPTA) opened at 9.32 on Wednesday. Capitala Finance Corp. has a 52 week low of $8.82 and a 52 week high of $15.80. The company has a 50-day moving average of $12.52 and a 200-day moving average of $13.59.
Capitala Finance Corp. (NASDAQ:CPTA) last posted its quarterly earnings results on Monday, August 7th. The investment management company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.33. Capitala Finance Corp. had a return on equity of 8.55% and a net margin of 8.91%. The business had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $15.11 million. On average, equities analysts predict that Capitala Finance Corp. will post $1.27 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.56 annualized dividend and a dividend yield of 16.74%. Capitala Finance Corp.’s dividend payout ratio (DPR) is 458.82%.
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A number of brokerages recently weighed in on CPTA. FBR & Co raised their target price on shares of Capitala Finance Corp. from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.00 target price on shares of Capitala Finance Corp. in a research note on Friday, April 28th. Ladenburg Thalmann Financial Services reaffirmed a “neutral” rating on shares of Capitala Finance Corp. in a research note on Thursday, August 10th. Wunderlich raised shares of Capitala Finance Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $14.50 to $15.50 in a research note on Monday, May 15th. Finally, Zacks Investment Research raised shares of Capitala Finance Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Capitala Finance Corp. presently has a consensus rating of “Hold” and a consensus target price of $15.32.
In other news, Director Larry W. Carroll acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $9.15 per share, with a total value of $183,000.00. Following the acquisition, the director now directly owns 82,150 shares of the company’s stock, valued at $751,672.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Mcglinn acquired 4,444 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $9.00 per share, for a total transaction of $39,996.00. Following the completion of the acquisition, the insider now directly owns 112,485 shares in the company, valued at $1,012,365. The disclosure for this purchase can be found here. Insiders have bought a total of 30,642 shares of company stock worth $289,029 over the last ninety days. Insiders own 8.40% 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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