TCP Capital Corp (NASDAQ:TCPC) Insider Acquires $73,050.00 in Stock

TCP Capital Corp (NASDAQ:TCPC) insider Mark Holdsworth bought 5,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $14.61 per share, for a total transaction of $73,050.00. Following the purchase, the insider now owns 74,465 shares in the company, valued at approximately $1,087,933.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TCP Capital Corp (NASDAQ:TCPC) traded down $0.01 during midday trading on Wednesday, reaching $14.59. 242,500 shares of the company’s stock traded hands, compared to its average volume of 238,959. 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 $856.60, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.84 and a beta of 0.68. TCP Capital Corp has a 52 week low of $14.09 and a 52 week high of $17.47.

TCP Capital declared that its board has approved a stock repurchase program on Tuesday, November 7th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the investment management company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in shares of TCP Capital by 53.3% during the second quarter. Ameriprise Financial Inc. now owns 22,577 shares of the investment management company’s stock worth $382,000 after purchasing an additional 7,853 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of TCP Capital by 17.3% during the second quarter. California Public Employees Retirement System now owns 97,800 shares of the investment management company’s stock worth $1,653,000 after purchasing an additional 14,400 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of TCP Capital during the second quarter worth $370,000. Stifel Financial Corp lifted its position in shares of TCP Capital by 6.9% during the second quarter. Stifel Financial Corp now owns 127,309 shares of the investment management company’s stock worth $2,154,000 after purchasing an additional 8,245 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of TCP Capital during the second quarter worth $189,000. 49.60% of the stock is owned by institutional investors.

TCPC has been the topic of several recent analyst reports. National Securities reiterated a “buy” rating and set a $19.00 price objective on shares of TCP Capital in a research report on Thursday, November 9th. Ladenburg Thalmann Financial Services assumed coverage on shares of TCP Capital in a report on Monday, November 20th. They issued a “buy” rating and a $17.00 target price for the company. Finally, BidaskClub raised shares of TCP Capital from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. TCP Capital has an average rating of “Buy” and an average target price of $18.00.

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TCP Capital Company 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.

Insider Buying and Selling by Quarter for TCP Capital (NASDAQ:TCPC)

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