Triangle Capital Cor (NASDAQ: TCAP) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating in a research note issued on Thursday.
Triangle Capital Corporation (Triangle) is a specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States. The Company defines lower middle market companies as those having annual revenues between $10 and $100 million. Its investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments. The Company invests primarily in senior and subordinated debt securities secured by first and second lien security interests in portfolio company assets, coupled with equity interests. The Company wholly owns Triangle Mezzanine Fund LLLP (the Fund) and Triangle Mezzanine LLC (TML), the general partner of the Fund. The Company’s investments generally range from $5 to $15 million per portfolio company.
Shares of Triangle Capital Cor opened at 19.82 on Thursday. Triangle Capital Cor has a one year low of $13.62 and a one year high of $20.93. The stock’s 50-day moving average is $19.08 and its 200-day moving average is $17.50. The company has a market cap of $450.2 million and a P/E ratio of 6.76.
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