Triangle Capital Has A Growing Non-Accrual Problem
Factoids • 50 Comments
Factoids • 50 Comments
Tue, Oct. 18, 4:23 PM
Mon, Oct. 10, 4:20 PM
Wed, Sep. 28, 9:55 AM| Wed, Sep. 28, 9:55 AM | 10 Comments
Tue, Sep. 13, 4:19 PM
Thu, Aug. 25, 4:23 PM
Wed, Aug. 24, 6:38 AM
Wed, Aug. 3, 4:49 PM
- Q2 net investment income of $16.3M or $0.49 per share vs. $9.6M and $0.29 in Q1 (which was affected by severance pay).
- Net asset value per share of $14.82 down $0.20 from three months earlier. Today's close was $19.87.
- Net increase in net assets from operations of $6.7M or $0.20 per share vs. $12.4M and $0.37 in Q1.
- CEO Ashton Poole notes a recent "marked improvement" in the investment pipeline, and says this is the main reason behind the recent capital raise.
- CC tomorrow at 9 ET
- Previously: Triangle Capital beats by $0.01, beats on total investment income (Aug. 3)
- TCAP +0.15% after hours
Wed, Aug. 3, 4:22 PM
Tue, Aug. 2, 5:35 PM
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Tue, Jul. 26, 8:32 AM
Mon, Jul. 25, 4:14 PM
- The company is selling 6.25M shares in a secondary offering, with underwriter greenshoe of another 937.5K shares.
- Today's close of $20.52 compared to March 31 NAV per share of $15.02.
- TCAP -2.05% after hours
Thu, Jul. 14, 10:40 AM
- Small-cap banks and BDCs are "increasingly less compelling" after recent run-ups, and without catalysts to support further multiple expansions, says Baird's Bryce Rowe.
- For more gains, he's looking for what he calls "higher quality" BDCs - those preserving capital and earning their cost of capital. Fidus Investment (FDUS +1.9%), Main Street Capital (MAIN -0.1%), Monroe Capital (MRCC +1.1%) and Triangle Capital (TCAP +0.1%) fit the bill, he says.
- He downgrades from Outperform to Neutral two others which have had big moves higher - New Mountain Finance and Stellus Capital (SCM -0.9%).
Wed, Jun. 29, 9:52 AM
- Leading the BDC sector in early action is Triangle Capital (TCAP +2.4%) after Raymond James upgrades to Market Perform from Underperform.
- The stock has bounced, but hasn't fully recovered from its early May plunge following a massive severance package to its outgoing CEO and a big cut to the dividend.
Wed, May 18, 2:37 PM
- Encouraged by narrowing credit spreads, and an oil price about to crack $50 (on the way up, not down), business development companies are nevertheless giving up session gains, with most turning negative following the FOMC's hawkish shocker.
- Prospect Capital (PSEC -1.3%), Ares Capital (ARCC -0.8%), Main Street (MAIN -1.9%), Apollo Investment (AINV -1.7%), Triangle (TCAP -1.1%), PennantPark Investment (PNNT -1.5%), KCAP Financial (KCAP -1.2%), FS Investment (FSIC -0.3%)
- ETFs: BDCL, BDCS, BIZD, FGB, LBDC
Tue, May 10, 9:43 AM
- Triangle Capital (NYSE:TCAP) plunged last week following a sizable severance payment to its outgoing chairman and a big dividend cut. It continues to claw back some of that loss after an upgrade to Buy from Hold at Jefferies.
- The stock's higher by 3.2% today to $17.90 - nicely up from a post-earnings low around $16, but down from $20 prior to earnings.
Mon, May 9, 7:54 AM
- The company has received a "green light" letter from the SBA, inviting it to continue its application to form and operate a third Small Business Investment Company subsidiary.
- If approved, it would provide TCAP with another source of attractively priced long-term capital through the use of SBA debt (the amount has recently been boosted to $350M from $225M).
- The green light letter is not an assurance that TCAP will be approved for the SBIC license.
- Source: Press Release