TCP Capital Corp. (NASDAQ:TCPC) Upgraded by National Bank Financial to Outperform
TCP Capital Corp. (NASDAQ:TCPC) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Monday, The Fly reports.
TCPC has been the subject of a number of other research reports. Zacks Investment Research cut TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, May 17th. Keefe, Bruyette & Woods set a $18.00 target price on TCP Capital Corp. and gave the company a “buy” rating in a report on Wednesday, May 31st. BidaskClub cut TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Finally, National Securities reissued a “neutral” rating and set a $17.00 target price on shares of TCP Capital Corp. in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.63.
TCP Capital Corp. (NASDAQ TCPC) traded up 1.3169% during trading on Monday, reaching $16.8186. The company’s stock had a trading volume of 138,741 shares. TCP Capital Corp. has a one year low of $15.33 and a one year high of $17.47. The stock has a 50-day moving average of $16.73 and a 200 day moving average of $16.95.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $46.23 million during the quarter, compared to analysts’ expectations of $40.37 million. TCP Capital Corp. had a return on equity of 12.93% and a net margin of 54.74%. On average, equities research analysts forecast that TCP Capital Corp. will post $1.55 EPS for the current fiscal year.
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In related news, Director Brian F. Wruble purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $16.63 per share, with a total value of $166,300.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $332,600. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in TCP Capital Corp. by 8.1% in the third quarter. Wells Fargo & Company MN now owns 4,082,702 shares of the investment management company’s stock valued at $66,874,000 after buying an additional 307,379 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in TCP Capital Corp. by 12.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 3,498,859 shares of the investment management company’s stock valued at $59,131,000 after buying an additional 377,862 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in TCP Capital Corp. by 7.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,229,000 shares of the investment management company’s stock valued at $54,570,000 after buying an additional 214,275 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in TCP Capital Corp. by 26.1% in the first quarter. Muzinich & Co. Inc. now owns 1,948,410 shares of the investment management company’s stock valued at $33,941,000 after buying an additional 403,805 shares in the last quarter. Finally, UBS Group AG boosted its stake in TCP Capital Corp. by 19.3% in the first quarter. UBS Group AG now owns 1,323,758 shares of the investment management company’s stock valued at $23,060,000 after buying an additional 213,748 shares in the last quarter. 50.95% of the stock is owned by hedge funds and other institutional investors.
About TCP Capital Corp.
TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.
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