TCP Capital Corp. (TCPC) Downgraded by BidaskClub
BidaskClub downgraded shares of TCP Capital Corp. (NASDAQ:TCPC) from a sell rating to a strong sell rating in a research report report published on Thursday.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered TCP Capital Corp. from a hold rating to a sell rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods set a $18.00 price target on TCP Capital Corp. and gave the company a buy rating in a research report on Wednesday, May 31st. Deutsche Bank AG raised TCP Capital Corp. from a hold rating to a buy rating and set a $18.00 price target for the company in a research report on Thursday, May 11th. Finally, National Securities reissued a neutral rating and issued a $17.00 price target on shares of TCP Capital Corp. in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $17.38.
TCP Capital Corp. (NASDAQ TCPC) traded up 0.12% during trading on Thursday, hitting $16.63. 5,055 shares of the company traded hands. TCP Capital Corp. has a 12-month low of $15.33 and a 12-month high of $17.47. The stock has a 50-day moving average price of $16.75 and a 200-day moving average price of $16.95.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $39.34 million during the quarter, compared to analyst estimates of $38.75 million. TCP Capital Corp. had a return on equity of 12.48% and a net margin of 58.13%. Equities research analysts anticipate that TCP Capital Corp. will post $1.53 EPS for the current fiscal year.
In other TCP Capital Corp. news, Director Brian F. Wruble acquired 10,000 shares of TCP Capital Corp. stock in a transaction on Friday, June 23rd. The stock was purchased at an average price of $16.63 per share, for a total transaction of $166,300.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $332,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TCPC. Global X Management Co. LLC increased its stake in TCP Capital Corp. by 49.8% in 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 buying an additional 2,520 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in TCP Capital Corp. during the first quarter valued at approximately $420,000. Shelton Capital Management acquired a new stake in TCP Capital Corp. during the first quarter valued at approximately $523,000. Nationwide Fund Advisors increased its stake in TCP Capital Corp. by 15.1% in the first quarter. Nationwide Fund Advisors now owns 40,359 shares of the investment management company’s stock valued at $703,000 after buying an additional 5,300 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in TCP Capital Corp. during the first quarter valued at approximately $706,000. Hedge funds and other institutional investors own 50.94% of the company’s stock.
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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