Mark Holdsworth Acquires 5,000 Shares of TCP Capital Corp (TCPC) Stock

TCP Capital Corp (NASDAQ:TCPC) insider Mark Holdsworth bought 5,000 shares of TCP Capital stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $14.61 per share, for a total transaction of $73,050.00. Following the completion of the acquisition, the insider now owns 74,465 shares in the company, valued at approximately $1,087,933.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of TCP Capital Corp (TCPC) opened at $14.50 on Friday. The stock has a market capitalization of $868.95, a price-to-earnings ratio of 8.54, a PEG ratio of 1.87 and a beta of 0.68. TCP Capital Corp has a 1-year low of $14.09 and a 1-year high of $17.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.76.

TCP Capital (NASDAQ:TCPC) last released its earnings results on Tuesday, November 7th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $43.29 million for the quarter, compared to analyst estimates of $43.45 million. TCP Capital had a return on equity of 12.17% and a net margin of 49.53%. research analysts anticipate that TCP Capital Corp will post 1.57 earnings per share for the current year.

TCP Capital announced that its board has initiated a stock repurchase program on Tuesday, November 7th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the investment management company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of TCP Capital during the 2nd quarter worth $189,000. Global X MANAGEMENT CO LLC lifted its position in shares of TCP Capital by 51.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock worth $189,000 after buying an additional 3,894 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of TCP Capital during the 3rd quarter worth $190,000. Hartland & Co. LLC bought a new stake in shares of TCP Capital during the 3rd quarter worth $218,000. Finally, Sigma Planning Corp bought a new stake in shares of TCP Capital during the 3rd quarter worth $242,000. 49.49% of the stock is currently owned by institutional investors.

TCPC has been the topic of several analyst reports. National Securities reissued a “buy” rating and set a $19.00 target price on shares of TCP Capital in a report on Thursday, November 9th. Ladenburg Thalmann Financial Services initiated coverage on TCP Capital in a report on Monday, November 20th. They set a “buy” rating and a $17.00 target price on the stock. Finally, BidaskClub raised TCP Capital from a “strong sell” rating to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.00.

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About TCP Capital

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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