Shares of TCP Capital Corp (NASDAQ:TCPC) have earned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.67.
Several research analysts have recently commented on the stock. BidaskClub upgraded shares of TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 24th. ValuEngine lowered shares of TCP Capital from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. JMP Securities dropped their price target on shares of TCP Capital from $17.50 to $17.00 and set a “market outperform” rating on the stock in a research note on Thursday, March 1st. Wells Fargo dropped their price target on shares of TCP Capital from $17.25 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, National Securities restated a “buy” rating and set a $19.00 price target on shares of TCP Capital in a research note on Wednesday, February 28th.
TCP Capital stock traded down $0.16 during trading hours on Wednesday, hitting $14.06. The company had a trading volume of 165,053 shares, compared to its average volume of 261,017. The firm has a market cap of $836.81, a PE ratio of 7.08, a P/E/G ratio of 1.81 and a beta of 0.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.56 and a current ratio of 5.56. TCP Capital has a fifty-two week low of $13.72 and a fifty-two week high of $17.47.
TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.12. TCP Capital had a net margin of 42.13% and a return on equity of 12.63%. The firm had revenue of $47.11 million for the quarter, compared to analyst estimates of $44.77 million. equities analysts anticipate that TCP Capital will post 1.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.24%. The ex-dividend date was Thursday, March 15th. TCP Capital’s payout ratio is 72.36%.
TCP Capital declared that its board has approved a share repurchase program on Tuesday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the investment management company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other news, insider Mark Holdsworth purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $14.61 per share, with a total value of $73,050.00. Following the acquisition, the insider now directly owns 74,465 shares of the company’s stock, valued at approximately $1,087,933.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard Levkowitz purchased 7,900 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $15.28 per share, with a total value of $120,712.00. Following the completion of the acquisition, the chief executive officer now directly owns 99,657 shares in the company, valued at $1,522,758.96. The disclosure for this purchase can be found here. Insiders have bought a total of 26,400 shares of company stock valued at $393,692 over the last ninety days. 0.56% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in TCPC. Mckinley Capital Management LLC Delaware increased its position in TCP Capital by 3.4% in the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 171,231 shares of the investment management company’s stock valued at $2,824,000 after acquiring an additional 5,605 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in TCP Capital by 7.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 85,070 shares of the investment management company’s stock valued at $1,300,000 after acquiring an additional 5,751 shares in the last quarter. Stifel Financial Corp increased its position in TCP Capital by 5.1% in the 3rd quarter. Stifel Financial Corp now owns 133,836 shares of the investment management company’s stock valued at $2,205,000 after acquiring an additional 6,527 shares in the last quarter. D.A. Davidson & CO. increased its position in TCP Capital by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 189,184 shares of the investment management company’s stock valued at $2,891,000 after acquiring an additional 8,023 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in TCP Capital by 2.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 339,712 shares of the investment management company’s stock valued at $5,602,000 after acquiring an additional 8,312 shares in the last quarter. 52.91% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for TCP Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCP Capital and related companies with MarketBeat.com's FREE daily email newsletter.