Oppenheimer & Co. Inc. Has $338,000 Holdings in TCP Capital Corp. (TCPC)
Oppenheimer & Co. Inc. raised its holdings in shares of TCP Capital Corp. (NASDAQ:TCPC) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,020 shares of the investment management company’s stock after buying an additional 1,306 shares during the period. Oppenheimer & Co. Inc.’s holdings in TCP Capital Corp. were worth $338,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of TCPC. Global X Management Co. LLC raised its stake in shares of TCP Capital Corp. by 49.8% during the first 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 during the last quarter. RFG Advisory Group LLC bought a new position in shares of TCP Capital Corp. during the second quarter valued at about $206,000. Mackenzie Financial Corp bought a new position in shares of TCP Capital Corp. during the first quarter valued at about $420,000. Wedbush Securities Inc. raised its stake in shares of TCP Capital Corp. by 3.6% during the second quarter. Wedbush Securities Inc. now owns 29,631 shares of the investment management company’s stock valued at $501,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Shelton Capital Management bought a new position in shares of TCP Capital Corp. during the first quarter valued at about $523,000. Institutional investors and hedge funds own 53.33% of the company’s stock.
In related news, Director Brian F. Wruble acquired 10,000 shares of the stock in a transaction on Friday, June 23rd. The stock was bought at an average cost of $16.63 per share, with a total value of $166,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $332,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.
Several brokerages have recently commented on TCPC. National Bank Financial raised shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 7th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of TCP Capital Corp. and gave the company a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of TCP Capital Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub downgraded shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, National Securities raised shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.17.
TCP Capital Corp. (TCPC) opened at 15.89 on Monday. TCP Capital Corp. has a 1-year low of $15.33 and a 1-year high of $17.47. The company has a 50-day moving average of $16.52 and a 200-day moving average of $16.86.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings data 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. The company had revenue of $46.23 million during the quarter, compared to analysts’ expectations of $40.37 million. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. On average, analysts anticipate that TCP Capital Corp. will post $1.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 9.06%. TCP Capital Corp.’s dividend payout ratio (DPR) is 92.90%.
About TCP Capital Corp.
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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