Top Buys by Directors: Smith Jr.'s $107.8K Bet on TCAP

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $107.8K by Sherwood Hubbard Smith Jr., Director at Triangle Capital Corporation (TCAP).

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Smith Jr. bets big on TCAP:
Purchased Insider Title Shares Price/Share Value
12/04/2014 Sherwood Hubbard Smith Jr. Director 5,000 $21.56 $107,800.00

Smith Jr.'s average cost works out to $21.56/share. Shares of Triangle Capital Corporation were changing hands at $23.76 at last check, trading off about 0.1% on Wednesday. The chart below shows the one year performance of TCAP shares, versus its 200 day moving average:

Triangle Capital Corporation Chart

Looking at the chart above, TCAP's low point in its 52 week range is $18.18 per share, with $28.67 as the 52 week high point — that compares with a last trade of $23.76.

The current annualized dividend paid by Triangle Capital Corporation is $2.16/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 03/09/2015. Below is a long-term dividend history chart for TCAP, which can be of good help in judging whether the most recent dividend with approx. 9.1% annualized yield is likely to continue.

TCAP+Dividend+History+Chart

According to the ETF Finder at ETF Channel, TCAP makes up 4.01% of the BDC Income ETF ( BIZD) which is trading relatively unchanged on the day Wednesday.

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