Capital Southwest Corporation $CSWC Stock Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC reduced its stake in shares of Capital Southwest Corporation (NASDAQ:CSWC) by 12.4% in the third quarter, HoldingsChannel.com reports. The firm owned 665,694 shares of the asset manager’s stock after selling 94,298 shares during the period. Capital Southwest comprises about 2.0% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 9th largest holding. Sanders Morris Harris LLC’s holdings in Capital Southwest were worth $15,398,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Capital Southwest during the 1st quarter worth approximately $13,694,000. Empirical Finance LLC purchased a new position in Capital Southwest in the first quarter valued at about $13,689,000. Legal & General Group Plc bought a new stake in shares of Capital Southwest in the 2nd quarter worth approximately $11,886,000. Van ECK Associates Corp grew its holdings in Capital Southwest by 35.4% during the second quarter. Van ECK Associates Corp now owns 1,526,667 shares of the asset manager’s stock valued at $36,289,000 after purchasing an additional 399,106 shares during the period. Finally, Melia Wealth LLC bought a new stake in shares of Capital Southwest in the second quarter valued at $8,979,000. Hedge funds and other institutional investors own 23.42% of the company’s stock.

Capital Southwest Trading Down 0.3%

CSWC traded down $0.08 during trading on Wednesday, hitting $23.42. 445,379 shares of the stock traded hands, compared to its average volume of 646,357. The firm has a 50-day moving average of $24.24 and a 200 day moving average of $23.69. Capital Southwest Corporation has a 12-month low of $19.91 and a 12-month high of $25.75. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.17 and a quick ratio of 0.17.

Capital Southwest (NASDAQ:CSWC) last released its quarterly earnings results on Monday, August 3rd. The asset manager reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Capital Southwest had a return on equity of 13.88% and a net margin of 46.68%. The business had revenue of $61.05 million during the quarter, compared to analyst estimates of $61.22 million. During the same quarter in the prior year, the company posted $0.61 EPS. Equities research analysts anticipate that Capital Southwest Corporation will post 2.27 EPS for the current year.

Capital Southwest Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a $0.1934 dividend. This represents a $2.32 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend is Tuesday, December 15th. Capital Southwest’s dividend payout ratio is presently 128.18%.

Wall Street Analyst Weigh In

CSWC has been the subject of several recent research reports. Citizens Jmp lifted their target price on shares of Capital Southwest from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. B. Riley Financial increased their price target on shares of Capital Southwest from $24.50 to $25.50 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings cut shares of Capital Southwest from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Citigroup reaffirmed a “market outperform” rating on shares of Capital Southwest in a report on Wednesday, August 5th. Finally, UBS Group boosted their price objective on Capital Southwest from $23.50 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 9th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Capital Southwest has an average rating of “Moderate Buy” and a consensus price target of $24.10.

Insider Buying and Selling

In other Capital Southwest news, Director William Thomas, III purchased 2,170 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was bought at an average cost of $23.04 per share, with a total value of $49,996.80. Following the transaction, the director directly owned 22,842 shares in the company, valued at approximately $526,279.68. The trade was a 10.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

About Capital Southwest

Capital Southwest Corporation (NASDAQ: CSWC) is an internally managed business development company (BDC) that provides financing and investment solutions to middle-market companies. The company primarily invests in privately held businesses through secured debt, including first-lien, second-lien and unitranche loans, as well as subordinated debt and equity investments.

Capital Southwest generally focuses on established lower-middle-market companies in the United States. Its portfolio companies operate across a range of industries, and the company seeks to support acquisitions, recapitalizations, growth initiatives and other strategic or general corporate purposes through customized financing arrangements.

Founded in 1961, Capital Southwest has a long history as an investment company and operates under the regulatory framework governing BDCs.