TCP Capital Corp Short Interest Down 51.2% in August (TCPC)
Shares of TCP Capital Corp (NASDAQ:TCPC) were the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 528,725 shares, a decline of 51.2% from the July 31st total of 1,082,401 shares, AnalystRatingsNetwork reports. Based on an average daily volume of 255,072 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.5% of the shares of the company are sold short.
A number of analysts have recently weighed in on TCPC shares. Analysts at Raymond James reiterated an “outperform” rating on shares of TCP Capital Corp in a research note on Tuesday, August 12th. They now have a $18.50 price target on the stock, up previously from $17.00. Separately, analysts at Jefferies Group reiterated a “market outperform” rating on shares of TCP Capital Corp in a research note on Tuesday, August 12th. They now have a $18.00 price target on the stock, up previously from $17.50. Finally, analysts at JMP Securities raised their price target on shares of TCP Capital Corp from $17.50 to $18.00 in a research note on Tuesday, August 12th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $17.67.
Shares of TCP Capital Corp (NASDAQ:TCPC) opened at 17.58 on Thursday. TCP Capital Corp has a 52 week low of $15.26 and a 52 week high of $18.55. The stock’s 50-day moving average is $17.39 and its 200-day moving average is $17.09.
TCP Capital Corp (NASDAQ:TCPC) last announced its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $24.59 million for the quarter, compared to the consensus estimate of $23.19 million. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, analysts predict that TCP Capital Corp will post $1.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Friday, September 12th.
TCP Capital Corp. is an externally managed, non-diversified closed-end management investment company.
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