Versant Capital Management Inc lessened its position in shares of TCP Capital Corp (NASDAQ:TCPC) by 12.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 27,770 shares of the investment management company’s stock after selling 3,814 shares during the quarter. Versant Capital Management Inc’s holdings in TCP Capital were worth $401,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new position in shares of TCP Capital during the 1st quarter worth approximately $114,000. Punch & Associates Investment Management Inc. bought a new position in shares of TCP Capital in the 1st quarter worth $151,000. Great West Life Assurance Co. Can bought a new position in shares of TCP Capital in the 1st quarter worth $222,000. Virtu Financial LLC bought a new position in shares of TCP Capital in the 4th quarter worth $261,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of TCP Capital by 39.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 28,200 shares of the investment management company’s stock worth $401,000 after purchasing an additional 7,937 shares in the last quarter. 50.78% of the stock is owned by institutional investors and hedge funds.
TCP Capital traded up $0.01, hitting $14.69, during trading hours on Friday, MarketBeat Ratings reports. 3,214 shares of the company traded hands, compared to its average volume of 222,471. The company has a current ratio of 8.22, a quick ratio of 8.22 and a debt-to-equity ratio of 0.88. TCP Capital Corp has a one year low of $13.72 and a one year high of $17.03. The stock has a market cap of $864.74 million, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71.
TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, May 9th. The investment management company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). TCP Capital had a net margin of 45.28% and a return on equity of 11.94%. The company had revenue of $44.22 million for the quarter, compared to the consensus estimate of $45.10 million. sell-side analysts forecast that TCP Capital Corp will post 1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 9.80%. The ex-dividend date was Thursday, June 14th. TCP Capital’s dividend payout ratio (DPR) is presently 72.36%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, May 12th. BidaskClub upgraded TCP Capital from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Finally, ValuEngine cut TCP Capital from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. TCP Capital currently has a consensus rating of “Buy” and a consensus price target of $17.33.
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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