TCP Capital Corp. (TCPC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of TCP Capital Corp. (NASDAQ:TCPC) have earned an average recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.67.
Several brokerages have recently issued reports on TCPC. National Securities reissued a “neutral” rating and set a $17.00 price objective on shares of TCP Capital Corp. in a research report on Thursday, May 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.00 target price on shares of TCP Capital Corp. in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. National Bank Financial raised shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 7th. Finally, Deutsche Bank AG raised shares of TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Thursday, May 11th.
In related news, Director Brian F. Wruble bought 10,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $16.63 per share, for a total transaction of $166,300.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $332,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.
Several hedge funds have recently bought and sold shares of TCPC. Global X Management Co. LLC boosted its stake in TCP Capital Corp. by 49.8% in the first quarter. Global X Management Co. LLC now owns 7,578 shares of the investment management company’s stock worth $132,000 after buying an additional 2,520 shares in the last quarter. Wexford Capital LP bought a new stake in TCP Capital Corp. during the first quarter worth about $1,037,000. Legal & General Group Plc boosted its stake in TCP Capital Corp. by 11.0% in the first quarter. Legal & General Group Plc now owns 125,375 shares of the investment management company’s stock worth $2,183,000 after buying an additional 12,425 shares in the last quarter. Van ECK Associates Corp boosted its stake in TCP Capital Corp. by 20.1% in the first quarter. Van ECK Associates Corp now owns 328,545 shares of the investment management company’s stock worth $5,723,000 after buying an additional 55,035 shares in the last quarter. Finally, 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 worth $33,941,000 after buying an additional 403,805 shares in the last quarter. Institutional investors own 51.08% of the company’s stock.
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Shares of TCP Capital Corp. (NASDAQ TCPC) opened at 16.77 on Tuesday. The firm’s 50 day moving average is $16.73 and its 200-day moving average is $16.93. TCP Capital Corp. has a 52 week low of $15.33 and a 52 week high of $17.47.
TCP Capital Corp. (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. The company had revenue of $46.23 million during the quarter, compared to the consensus estimate of $40.37 million. On average, equities research analysts anticipate that TCP Capital Corp. will post $1.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date of this dividend is Thursday, September 14th. TCP Capital Corp.’s dividend payout ratio is presently 92.90%.
TCP Capital Corp. Company Profile
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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