TCP Capital Corp. (NASDAQ:TCPC) has received an average rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $17.33.
A number of brokerages have recently commented on TCPC. Zacks Investment Research cut shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of TCP Capital Corp. and gave the stock a “buy” rating in a research note on Wednesday, May 31st. BidaskClub cut shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. National Securities reaffirmed a “neutral” rating and set a $17.00 price objective on shares of TCP Capital Corp. in a research note on Thursday, May 11th. Finally, Deutsche Bank AG raised shares of TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, May 11th.
TCP Capital Corp. (NASDAQ:TCPC) opened at 16.53 on Friday. TCP Capital Corp. has a one year low of $15.33 and a one year high of $17.47. The firm’s 50-day moving average is $16.82 and its 200 day moving average is $16.97.
TCP Capital Corp. (NASDAQ:TCPC) last issued its quarterly earnings data on Tuesday, May 9th. The investment management company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $39.34 million for the quarter, compared to analysts’ expectations of $38.75 million. TCP Capital Corp. had a net margin of 58.13% and a return on equity of 12.48%. On average, equities analysts predict that TCP Capital Corp. will post $1.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.71%. TCP Capital Corp.’s dividend payout ratio (DPR) is 88.34%.
In other TCP Capital Corp. news, Director Brian F. Wruble bought 10,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were purchased at an average price of $16.63 per share, for a total transaction of $166,300.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $332,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC raised its position in shares of 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. Mackenzie Financial Corp acquired a new position in shares of TCP Capital Corp. during the first quarter worth about $420,000. Shelton Capital Management acquired a new position in shares of TCP Capital Corp. during the first quarter worth about $523,000. Nationwide Fund Advisors raised its position in shares of TCP Capital Corp. by 15.1% in the first quarter. Nationwide Fund Advisors now owns 40,359 shares of the investment management company’s stock worth $703,000 after buying an additional 5,300 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of TCP Capital Corp. during the first quarter worth about $706,000. Hedge funds and other institutional investors own 50.55% of the company’s stock.
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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