TCP Capital Corp. (TCPC) Reaches New 1-Year High at $16.26
TCP Capital Corp. (NASDAQ:TCPC)’s share price reached a new 52-week high on Friday . The company traded as high as $16.26 and last traded at $16.15, with a volume of 132,036 shares. The stock had previously closed at $16.22.
A number of research firms recently weighed in on TCPC. Deutsche Bank AG reduced their price target on TCP Capital Corp. from $15.00 to $14.80 and set a “hold” rating for the company in a report on Thursday, May 12th. FBR & Co reaffirmed a “buy” rating on shares of TCP Capital Corp. in a report on Thursday. National Securities reissued a “buy” rating and set a $17.00 target price on shares of TCP Capital Corp. in a report on Wednesday, August 10th. Zacks Investment Research cut TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Finally, Citigroup Inc. increased their target price on TCP Capital Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.22.
The company’s 50 day moving average is $15.71 and its 200-day moving average is $14.70.
TCP Capital Corp. (NASDAQ:TCPC) last announced its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. On average, analysts anticipate that TCP Capital Corp. will post $1.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.44 dividend on an annualized basis and a yield of 8.88%.
A hedge fund recently bought a new stake in TCP Capital Corp. stock. West Family Investments Inc. purchased a new position in TCP Capital Corp. (NASDAQ:TCPC) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 124,179 shares of the investment management company’s stock, valued at approximately $1,730,000.
TCP Capital Corp. is a 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. The Company invests in debt securities of middle-market companies.
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