Shares of TCP Capital Corp (NASDAQ:TCPC) have received a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $18.00.
A number of research analysts have recently issued reports on TCPC shares. Ladenburg Thalmann Financial Services started coverage on TCP Capital in a report on Monday, November 20th. They issued a “buy” rating and a $17.00 price target on the stock. National Securities reiterated a “buy” rating and issued a $19.00 price target on shares of TCP Capital in a report on Thursday, November 9th. Finally, BidaskClub upgraded TCP Capital from a “strong sell” rating to a “sell” rating in a report on Monday.
In other TCP Capital news, COO Rajneesh Vig bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average cost of $15.06 per share, for a total transaction of $75,300.00. Following the purchase, the chief operating officer now directly owns 32,750 shares in the company, valued at $493,215. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard Levkowitz bought 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $15.28 per share, for a total transaction of $120,712.00. Following the completion of the purchase, the chief executive officer now owns 99,657 shares in the company, valued at $1,522,758.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 16,400 shares of company stock worth $248,292. 0.56% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TCPC. HighTower Advisors LLC acquired a new stake in TCP Capital during the 2nd quarter worth about $189,000. Global X MANAGEMENT CO LLC lifted its position in TCP Capital 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 acquiring an additional 3,894 shares during the period. Trexquant Investment LP acquired a new stake in TCP Capital during the 3rd quarter worth about $190,000. Hartland & Co. LLC acquired a new stake in TCP Capital during the 3rd quarter worth about $218,000. Finally, Sigma Planning Corp acquired a new stake in TCP Capital during the 3rd quarter worth about $242,000. 49.49% of the stock is owned by institutional investors.
TCP Capital (TCPC) opened at $14.43 on Tuesday. TCP Capital has a fifty-two week low of $14.09 and a fifty-two week high of $17.47. The stock has a market capitalization of $884.24, a price-to-earnings ratio of 10.23, a PEG ratio of 1.90 and a beta of 0.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.18 and a quick ratio of 1.18.
TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. TCP Capital had a return on equity of 12.17% and a net margin of 49.53%. The business had revenue of $43.29 million for the quarter, compared to the consensus estimate of $43.45 million. sell-side analysts anticipate that TCP Capital will post 1.57 earnings per share for the current fiscal year.
TCP Capital declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 7th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the investment management company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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About TCP Capital
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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