Triangle Capital
 (TCAP)

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  • Wed, Feb. 3, 4:30 PM
    • Co-founder, CEO, and Chairman, Garland Tucker III has exited the CEO role at Triangle Capital (NYSE:TCAP), but will remain Chairman. He had been CEO and chairman since the 2007 IPO.
    • Taking his place running the company will be COO E. Ashton Poole who joined Triangle nearly three years ago.
    • Source: Press release
    | Wed, Feb. 3, 4:30 PM | 6 Comments
  • Wed, Jan. 20, 11:05 AM
    • The S&P 500 is lower by 3%, oil is nearing a $26 handle, and high-yield is selling off, with HYG -1.4% and JNK -1.3%. Those two ETFs are lower by about 5% YTD and in the area of 15% Y/Y.
    • Leveraged to all the above data, BDC sector losses are eve worse. Prospect Capital (PSEC -3.6%), Fifth Street (FSC -7.4%), Ares Capital (ARCC -5.3%), FS Investment (FSIC -10.8%), Main Street (MAIN -6.4%), Blackrock Capital (BKCC -5.3%), Apollo Investment (AINV -7%), Triangle Capital (TCAP -7.9%), TICC Capital (TICC -3.1%), Pennant Park Investment (PNNT -6.5%), KCAP Financial (KCAP -7.7%), THL Credit (TCRD -8%), TCP Capital (TCPC -7.4%), Gladstone Capital (GLAD -5.6%), WhiteHorse Finance (WHF -9.3%), Garrison Capital (GARS -6.8%)
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Wed, Jan. 20, 11:05 AM | 51 Comments
  • Dec. 15, 2015, 11:17 AM
    • The iShares High Yield Bond ETF (HYG +1.5%) and the SPDR High Yield Bond ETF (JNK +1.1%) both continue to gain from lows hit at about midday yesterday.
    • The move has roughly matched that of crude oil, which is ahead 1.3% on the session to $36.78 after threatening a $33 handle at its worst levels on Monday.
    • Bouncing alongside are those thoroughly roughed-up income vehicles, the BDCs. Among the movers: Triangle Capital (TCAP +5.5%), Apollo Investment (AINV +5.6%) - which added to its buyback last night - Medley Capital (MCC +3.3%), FS Investment (FSIC +3.4%), Fifth Street Finance (FSC +2%), and Prospect Capital (PSEC +3.5%).
    | Dec. 15, 2015, 11:17 AM | 20 Comments
  • Dec. 14, 2015, 11:20 AM
    • The price of oil has stabilized, but the major averages are moving lower, Treasury yields are moving higher in front of this week's expected Fed rate hike, and high-yield continues to sell off (with more funds gating withdrawals/selling holdings).
    • It all adds up to continued panicky liquidation in the business development complex. Prospect Capital (PSEC -4.8%), Fifth Street Finance (FSC -4.1%), Ares Capital (ARCC -4.9%), FS Investment (FSIC -3.4%), Triangle Capital (TCAP -4.8%), TICC Capital (TICC -9.1%), PennantPark Investment (PNNT -4.3%), New Mountain Finance (NMFC -5.8%), Monroe Capital (MRCC -4.5%), Oxford Lane (OXLC -10.4%).
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Dec. 14, 2015, 11:20 AM | 65 Comments
  • Dec. 7, 2015, 12:27 PM
    • Triangle Capital (TCAP -9.7%) is leading the way lower in the sector as oil tumbles all the way down to $38 per barrel, the XLE slides 4.5%, and junk bonds sell off again.
    • OHA Investment (OHAI -6.4%), PennantPark Investment (PNNT -4.6%), Prospect Capital (PSEC -2.8%), Ares Capital (ARCC -2.5%), Apollo Investment (AINV -4.5%), KCAP Financial (KCAP -3.4%), Main Street Capital (MAIN -1.1%).
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Dec. 7, 2015, 12:27 PM | 42 Comments
  • Nov. 25, 2015, 6:38 AM
    • Triangle Capital (NYSE:TCAP) declares $0.54/share quarterly dividend, in line with previous.
    • Forward yield 10.12%
    • Payable Dec. 23; for shareholders of record Dec. 9; ex-div Dec. 7.
    • In addition, board  announced supplemental dividend of $0.05/share payable along with quarterly dividend.
    | Nov. 25, 2015, 6:38 AM | 4 Comments
  • Nov. 4, 2015, 4:28 PM
    • Q3 net investment income of $18.5M or $0.56 per share vs. $16.2M and $0.49 in Q2. Dividend is $0.54.
    • Net increase in net assets from operations of $17.9M or $0.54 per share vs. $12.2M and $0.37 in Q2.
    • Net asset value per share of $15.48 up a penny from one quarter ago.
    • Company took advantage of the financial tumult in the quarter, putting $189.2M to work. Principal repayments of $104.1M.
    • Non-accrual assets as a percent of total portfolio cost of 2%, down 110 basis points; as a percent of fair value of 0.7%, down 90 basis points.
    • Conference call tomorrow at 9 ET
    • Previously: Triangle Capital beats by $0.06, beats on total investment income (Nov. 4)
    • TCAP flat after hours
    | Nov. 4, 2015, 4:28 PM
  • Nov. 4, 2015, 4:18 PM
    • Triangle Capital (NYSE:TCAP): Q3 NII of $0.56 beats by $0.06.
    • Total investment income of $30.84M (+24.0% Y/Y) beats by $1.9M.
    | Nov. 4, 2015, 4:18 PM | 1 Comment
  • Nov. 3, 2015, 5:35 PM
  • Oct. 1, 2015, 4:22 PM
    • Board member Rich Simon buys the dip in company stock, picking up 15K shares yesterday at $16.167 each ($250K worth) - bringing his and his wife's stake in the company to about 85K shares.
    • TCAP was higher by 8.1% today to $17.82.
    | Oct. 1, 2015, 4:22 PM | 4 Comments
  • Sep. 28, 2015, 11:16 AM
    • A weekend WSJ story highlighting growing spreads in the high-yield market and the solvency of commodity giant Glencore being called into question are possibly teaming to spook investors in BDCs today.
    • On Friday, Altice sold $4.8B of junk bonds to fund its purchase of Cablevision, well less than the $6.3B it hoped to sell. The 10-year paper on the deal priced to yield 10.875%, more than 100 bps higher than what had been initially expected. Olin on Friday sold $1.2B of paper to fund an acquisition. It had hoped to sell $1.5B. For the privilege, Olin is paying 10% for the 10-year notes, up from 7% expected earlier this month.
    • Prospect Capital (PSEC -4.2%), Fifth Street (FSC -3%), Ares (ARCC -3.2%), FS Investment (FSIC -2.3%), Main Street (MAIN -3.4%), Triangle (TCAP -5.6%), Medley (MCC -2.5%), KCAP (KCAP -3.7%), Gladstone (GLAD -3.9%), WhiteHorse (WHF -5.6%).
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Sep. 28, 2015, 11:16 AM | 60 Comments
  • Sep. 9, 2015, 4:14 PM
    • TCAP's investment in Consolidated Lumber Company consists of unitranche debt and equity.
    • Consolidated is a Stillwater, MN-based provider of residential and commercial building and construction materials.
    | Sep. 9, 2015, 4:14 PM | 5 Comments
  • Sep. 3, 2015, 4:05 PM
    • Louisiana-based Rotolo Consultants is a provider of landscaping maintenance and construction services in the South. TCAP's investment consists of second lien debt and equity.
    | Sep. 3, 2015, 4:05 PM
  • Aug. 27, 2015, 2:57 PM
    • Prospect Capital is higher by 7.4% after beating earnings estimates and reporting a slight increase in NAV, and also helping is a near-10% jump in the price of oil.
    • Ares Capital (ARCC +2.5%), Triangle Capital (TCAP +1.8%), PennantPark Investment (PNNT +5.4%), Medley Capital (MCC +3.2%), KCAP Financial (KCAP +3.1%), OHA Investment (OHAI +2.2%), Gladstone Capital (GLAD +4.6%).
    • ETFs: BDCL, BDCS, BIZD, FGB
    | Aug. 27, 2015, 2:57 PM | 1 Comment
  • Aug. 26, 2015, 6:12 AM
    • Triangle Capital (NYSE:TCAP) declares $0.54/share quarterly dividend, in line with previous.
    • Forward yield 11.39%
    • Payable Sept. 23; for shareholders of record Sept. 9; ex-div Sept. 4.
    • In addition, board  announced supplemental dividend of $0.05/share payable along with quarterly dividend.
    | Aug. 26, 2015, 6:12 AM | 11 Comments
  • Aug. 5, 2015, 4:22 PM
    • Q2 net investment income of $16.2M or $0.49 per share vs. $17.8M and $0.54 in Q1. Dividend was $0.54, plus a special $0.05 payout.
    • Net increase in net assets from operations of $12.2M or $0.37 per share vs. $8.4M and $0.25 in Q1.
    • Net asset value per share of $15.47 down from $15.64 in Q1. Today's closing stock price was $21.23.
    • Non-accrual assets as a percentage of total portfolio cost of 3.1%, improves 300 basis points; as a percent of fair value of 1.6% improves 110 basis points.
    • Conference call tomorrow at 9 ET
    • Previously: Triangle Capital misses by $0.01, misses on total investment income (Aug. 5)
    • TCAP flat after hours
    | Aug. 5, 2015, 4:22 PM | 7 Comments
Company Description
Triangle Capital Corporation is a speciality finance company. The Company provides customized financing solutions to lower middle market companies located in United States. It lends to and invests in customers in various industries.
Sector: Financial
Country: United States