TCP Capital Corp (NASDAQ:TCPC) Director Kathleen A. Corbet bought 3,500 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were acquired at an average price of $16.54 per share, for a total transaction of $57,890.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
TCP Capital Corp (NASDAQ:TCPC) opened at 16.78 on Friday. TCP Capital Corp has a 52 week low of $14.41 and a 52 week high of $17.47. The company has a market cap of $890.03 million, a PE ratio of 11.20 and a beta of 0.68. The company has a 50-day moving average of $17.09 and a 200-day moving average of $16.90.
TCP Capital Corp (NASDAQ:TCPC) last released its earnings results on Tuesday, May 9th. The investment management company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.09. TCP Capital Corp had a return on equity of 13.16% and a net margin of 40.54%. The firm had revenue of $39.34 million during the quarter, compared to the consensus estimate of $38.75 million. On average, equities analysts expect that TCP Capital Corp will post $1.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.54%. The ex-dividend date of this dividend is Wednesday, June 14th. TCP Capital Corp’s dividend payout ratio (DPR) is 130.91%.
A number of analysts have recently commented on TCPC shares. FBR & Co boosted their target price on shares of TCP Capital Corp to $18.00 in a report on Friday, January 20th. National Securities restated a “neutral” rating and set a $17.00 target price on shares of TCP Capital Corp in a report on Wednesday, March 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 target price on shares of TCP Capital Corp in a report on Friday, April 28th. Zacks Investment Research cut shares of TCP Capital Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG upgraded shares of TCP Capital Corp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.38.
Several large investors have recently added to or reduced their stakes in TCPC. Global X Management Co. LLC increased 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 during the period. Capstone Investment Advisors LLC purchased a new stake in TCP Capital Corp during the fourth quarter worth approximately $174,000. A.R.T. Advisors LLC purchased a new stake in TCP Capital Corp during the fourth quarter worth approximately $207,000. Oppenheimer & Co. Inc. boosted its position in shares of TCP Capital Corp by 4.5% in the third quarter. Oppenheimer & Co. Inc. now owns 21,490 shares of the investment management company’s stock valued at $352,000 after buying an additional 919 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in shares of TCP Capital Corp by 19.2% in the third quarter. Eagle Global Advisors LLC now owns 24,160 shares of the investment management company’s stock valued at $396,000 after buying an additional 3,890 shares in the last quarter. 54.87% 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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