Capital Southwest Co. (NASDAQ: CSWC – Get a rating) saw a sharp drop in short-term interest during August. As of August 15, there was short interest totaling 263,800 shares, down 39.4% from July 31’s total of 435,500 shares. Based on an average trading volume of 198,600 shares, the day-to-cover ratio is currently 1.3 days.
Analyst upgrades and downgrades
Several stock analysts have commented on the company. JMP Securities cut its price target on Capital Southwest from $27.00 to $25.00 and set a “market outperformance” rating on the stock in a Wednesday, Aug. 3 research report. The Hovde Group reduced its price target on Capital Southwest to $22.00 in a Friday, May 20 research report. Finally, Raymond James cut his price target on Capital Southwest from $26.00 to $23.00 and set an “outperform” rating on the stock in a Wednesday, Aug. 3 research report. Three investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.33.
Institutional investors weigh in on Capital Southwest
A number of institutional investors have recently increased or reduced their stake in the stock. Commonwealth Equity Services LLC increased its position in Capital Southwest by 3.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,369 shares of the asset manager valued at $363,000 after buying an additional 461 shares last quarter. Confluence Investment Management LLC increased its position in Capital Southwest by 0.6% during the second quarter. Confluence Investment Management LLC now owns 108,185 shares of the asset manager valued at $1,993,000 after buying an additional 594 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Capital Southwest by 3.1% during the first quarter. PNC Financial Services Group Inc. now owns 20,583 shares of the asset manager valued at $488,000 after buying an additional 611 shares last quarter. Great West Life Assurance Co. Can increased its position in Capital Southwest by 10.3% during the first quarter. Great West Life Assurance Co. Can now owns 7,765 shares of the asset manager valued at $196,000 after buying an additional 726 shares last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Capital Southwest by 3.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,826 shares of the asset manager valued at $613,000 after buying an additional 777 shares last quarter. Institutional investors hold 24.47% of the company’s shares.
Capital Southwest Stock down 1.1%
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Shares of CSWC traded down $0.22 in Friday’s midday session, hitting $20.36. 125,345 shares were traded, against an average volume of 157,437. Capital Southwest has a 52-week low of $17.79 and a 52-week high of $28.41. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt ratio of 0.65. The company’s 50-day moving average is $19.55 and its two-hundred-day moving average is $21.93. The company has a market capitalization of $560.53 million, a P/E ratio of 15.91 and a beta of 1.14.
Capital Southwest (NASDAQ:CSWC – Get a rating) last released its quarterly results on Monday, August 1. The asset manager reported earnings per share (EPS) of $0.49 for the quarter, beating analyst consensus estimates of $0.48 by $0.01. Capital Southwest had a return on equity of 11.22% and a net margin of 35.02%. The company posted revenue of $22.54 million for the quarter, versus a consensus estimate of $22.36 million. On average, sell-side analysts expect Capital Southwest to post earnings per share of 2.05 for the current year.
Capital Southwest increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Thursday, September 15 will receive a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 14. This represents a dividend of $2.00 on an annualized basis and a yield of 9.82%. This is an increase from Capital Southwest’s previous quarterly dividend of $0.48. Capital Southwest’s dividend payout ratio (DPR) is currently 150.00%.
About the Southwest Capital
Capital Southwest Corporation is a business development firm specializing in credit, private equity and venture capital investments in middle market companies, mezzanines, later stages, mature companies, late stage companies, growths emerging markets, buyouts, recapitalizations and growth capital investments. It does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration companies, distressed companies, turnarounds and companies in which senior executives important leave.
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