Allen Investment Management LLC boosted its stake in TCP Capital Corp. (NASDAQ:TCPC) by 8.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,427 shares of the investment management company’s stock after buying an additional 4,645 shares during the period. Allen Investment Management LLC’s holdings in TCP Capital Corp. were worth $971,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted its stake in TCP Capital Corp. by 26.1% in the first quarter. Muzinich & Co. Inc. now owns 1,948,410 shares of the investment management company’s stock valued at $33,941,000 after buying an additional 403,805 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in TCP Capital Corp. by 7.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,229,000 shares of the investment management company’s stock valued at $54,570,000 after buying an additional 214,275 shares during the last quarter. UBS Group AG boosted its stake in TCP Capital Corp. by 19.3% in the first quarter. UBS Group AG now owns 1,323,758 shares of the investment management company’s stock valued at $23,060,000 after buying an additional 213,748 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in TCP Capital Corp. by 88.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 301,842 shares of the investment management company’s stock valued at $5,258,000 after buying an additional 141,796 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in TCP Capital Corp. by 17.3% in the second quarter. Advisors Asset Management Inc. now owns 441,269 shares of the investment management company’s stock valued at $7,457,000 after buying an additional 64,950 shares during the last quarter. 53.47% of the stock is owned by institutional investors and hedge funds.

TCP Capital Corp. (TCPC) opened at 16.58 on Wednesday. TCP Capital Corp. has a one year low of $15.33 and a one year high of $17.47. The firm has a 50-day moving average price of $16.68 and a 200 day moving average price of $16.93.

TCP Capital Corp. (NASDAQ:TCPC) last issued its earnings results on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $46.23 million during the quarter, compared to the consensus estimate of $40.37 million. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. On average, equities research analysts predict that TCP Capital Corp. will post $1.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 8.69%. The ex-dividend date is Thursday, September 14th. TCP Capital Corp.’s dividend payout ratio is currently 92.90%.

ILLEGAL ACTIVITY WARNING: This report was published by Watch List News and is owned by of Watch List News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/allen-investment-management-llc-raises-stake-in-tcp-capital-corp-tcpc/1531861.html.

TCPC has been the subject of several analyst reports. Zacks Investment Research cut TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods set a $18.00 price objective on TCP Capital Corp. and gave the company a “buy” rating in a report on Wednesday, May 31st. BidaskClub cut TCP Capital Corp. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Deutsche Bank AG raised TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, May 11th. Finally, National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.17.

In other news, Director Brian F. Wruble bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $16.63 per share, with a total value of $166,300.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $332,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.56% 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.

Want to see what other hedge funds are holding TCPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TCP Capital Corp. (NASDAQ:TCPC).

Institutional Ownership by Quarter for TCP Capital Corp. (NASDAQ:TCPC)

Receive News & Ratings for TCP Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCP Capital Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.