TCP Capital Corp. (TCPC) Stake Increased by Relative Value Partners Group LLC
Relative Value Partners Group LLC grew its stake in shares of TCP Capital Corp. (NASDAQ:TCPC) by 27.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 53,664 shares of the investment management company’s stock after acquiring an additional 11,718 shares during the quarter. Relative Value Partners Group LLC owned about 0.09% of TCP Capital Corp. worth $885,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC bought a new stake in shares of TCP Capital Corp. during the 2nd quarter valued at $182,000. HighTower Advisors LLC bought a new stake in shares of TCP Capital Corp. during the 2nd quarter valued at $189,000. Global X MANAGEMENT CO LLC lifted its position in shares of 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 valued at $189,000 after acquiring an additional 3,894 shares during the period. RFG Advisory Group LLC bought a new stake in shares of TCP Capital Corp. during the 2nd quarter valued at $206,000. Finally, Sigma Planning Corp bought a new stake in shares of TCP Capital Corp. during the 3rd quarter valued at $242,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.
TCP Capital Corp. (NASDAQ:TCPC) opened at $16.19 on Friday. TCP Capital Corp. has a fifty-two week low of $15.55 and a fifty-two week high of $17.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $949.50, a PE ratio of 9.34, a price-to-earnings-growth ratio of 2.06 and a beta of 0.73.
TCP Capital Corp. declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 7th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 8.89%. TCP Capital Corp.’s payout ratio is presently 102.13%.
A number of equities analysts have recently commented on TCPC shares. National Securities raised TCP Capital Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $19.00 in a report on Monday, August 7th. National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th. BidaskClub raised TCP Capital Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Keefe, Bruyette & Woods set a $18.00 price target on TCP Capital Corp. and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Ladenburg Thalmann Financial Services started coverage on TCP Capital Corp. in a report on Monday, November 20th. They set a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. TCP Capital Corp. currently has an average rating of “Buy” and an average price target of $18.00.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/tcp-capital-corp-tcpc-stake-increased-by-relative-value-partners-group-llc/1725403.html.
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.
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.