Jane Street Group LLC decreased its holdings in TCP Capital Corp (NASDAQ:TCPC) by 33.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,943 shares of the investment management company’s stock after selling 9,118 shares during the quarter. Jane Street Group LLC’s holdings in TCP Capital were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Muzinich & Co. Inc. lifted its position in TCP Capital by 34.3% during the second quarter. Muzinich & Co. Inc. now owns 2,616,821 shares of the investment management company’s stock valued at $44,224,000 after buying an additional 668,411 shares during the period. Yorktown Management & Research Co Inc increased its holdings in shares of TCP Capital by 40.6% during the second quarter. Yorktown Management & Research Co Inc now owns 450,000 shares of the investment management company’s stock valued at $7,605,000 after acquiring an additional 130,000 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of TCP Capital by 881.5% during the second quarter. GSA Capital Partners LLP now owns 109,876 shares of the investment management company’s stock valued at $1,857,000 after acquiring an additional 98,681 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of TCP Capital by 28.1% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 420,261 shares of the investment management company’s stock valued at $6,930,000 after acquiring an additional 92,106 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of TCP Capital by 27.3% during the second quarter. Van ECK Associates Corp now owns 418,273 shares of the investment management company’s stock valued at $7,069,000 after acquiring an additional 89,728 shares in the last quarter. 49.52% of the stock is owned by institutional investors.
TCP Capital Corp (NASDAQ TCPC) traded up $0.02 during trading on Friday, hitting $15.42. The company’s stock had a trading volume of 213,226 shares, compared to its average volume of 258,914. TCP Capital Corp has a 1-year low of $14.98 and a 1-year high of $17.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.76. The company has a market cap of $906.58, a P/E ratio of 11.26, a P/E/G ratio of 1.95 and a beta of 0.71.
TCP Capital declared that its board has authorized a share buyback plan on Tuesday, November 7th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the investment management company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.34%. TCP Capital’s payout ratio is currently 105.11%.
Several equities analysts have recently weighed in on TCPC shares. Ladenburg Thalmann Financial Services started coverage on TCP Capital in a report on Monday, November 20th. They set a “buy” rating and a $17.00 price target for the company. National Securities reiterated a “buy” rating and issued a $19.00 price objective on shares of TCP Capital in a report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods set a $18.00 price objective on TCP Capital and gave the stock a “buy” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. TCP Capital has an average rating of “Buy” and an average price target of $18.00.
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TCP Capital 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.
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