Sigma Planning Corp Takes Position in TCP Capital Corp. (TCPC)
Sigma Planning Corp acquired a new position in shares of TCP Capital Corp. (NASDAQ:TCPC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,683 shares of the investment management company’s stock, valued at approximately $242,000.
A number of other large investors have also recently bought and sold shares of TCPC. Sheaff Brock Investment Advisors LLC acquired a new position in TCP Capital Corp. during the 2nd quarter worth $182,000. HighTower Advisors LLC acquired a new position in TCP Capital Corp. during the 2nd quarter worth $189,000. Global X MANAGEMENT CO LLC lifted its holdings in TCP Capital Corp. 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 in the last quarter. RFG Advisory Group LLC acquired a new position in TCP Capital Corp. during the 2nd quarter worth $206,000. Finally, Nine Chapters Capital Management LLC acquired a new position in TCP Capital Corp. during the 3rd quarter worth $277,000. 53.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TCP Capital Corp. (TCPC) traded up $0.11 during trading on Friday, hitting $15.89. 205,132 shares of the company’s stock traded hands, compared to its average volume of 183,714. The company has a market cap of $927.74, a PE ratio of 9.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. TCP Capital Corp. has a 52 week low of $15.55 and a 52 week high of $17.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.76.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 9.06%. The ex-dividend date is Thursday, December 14th. TCP Capital Corp.’s payout ratio is 105.11%.
TCP Capital Corp. announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 7th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the investment management company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Several research firms have issued reports on TCPC. National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of TCP Capital Corp. in a report on Thursday, November 9th. National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price objective on shares of TCP Capital Corp. in a report on Tuesday, July 25th. Finally, BidaskClub raised TCP Capital Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.25.
TCP Capital Corp. 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.
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.