Caxton Associates LP lifted its position in shares of TCP Capital Corp. (NASDAQ:TCPC) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,614 shares of the investment management company’s stock after acquiring an additional 4,105 shares during the quarter. Caxton Associates LP’s holdings in TCP Capital Corp. were worth $754,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its holdings in shares of TCP Capital Corp. by 49.8% during the 1st quarter. Global X Management Co. LLC now owns 7,578 shares of the investment management company’s stock valued at $132,000 after acquiring an additional 2,520 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in TCP Capital Corp. during the 2nd quarter worth $182,000. HighTower Advisors LLC bought a new position in TCP Capital Corp. during the 2nd quarter worth $189,000. RFG Advisory Group LLC bought a new position in TCP Capital Corp. during the 2nd quarter worth $206,000. Finally, Oppenheimer & Co. Inc. raised its position in TCP Capital Corp. by 7.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,020 shares of the investment management company’s stock worth $338,000 after purchasing an additional 1,306 shares during the last quarter. 53.33% of the stock is currently owned by institutional investors.
Shares of TCP Capital Corp. (TCPC) traded up 0.18% on Monday, reaching $16.63. The company had a trading volume of 19,495 shares. The company’s 50-day moving average is $16.36 and its 200-day moving average is $16.78. TCP Capital Corp. has a one year low of $15.33 and a one year high of $17.47.
TCP Capital Corp. (NASDAQ:TCPC) last posted its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.43 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $46.23 million during the quarter, compared to analyst estimates of $40.37 million. On average, analysts predict that TCP Capital Corp. will post $1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 8.67%. TCP Capital Corp.’s payout ratio is 92.90%.
Several research analysts recently issued reports on TCPC shares. Zacks Investment Research raised TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub lowered TCP Capital Corp. from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 target price on shares of TCP Capital Corp. in a research report on Tuesday, July 25th. National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 7th. Finally, National Securities raised TCP Capital Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $18.25.
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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