TCP Capital Corp. (TCPC) Sets New 12-Month High at $16.26
TCP Capital Corp. (NASDAQ:TCPC)’s share price reached a new 52-week high on Friday . The stock 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.
Several equities analysts have weighed in on TCPC shares. Zacks Investment Research upgraded shares of TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. National Securities reiterated a “buy” rating and set a $17.00 price objective on shares of TCP Capital Corp. in a research report on Wednesday, August 10th. Deutsche Bank AG lifted their price objective on shares of TCP Capital Corp. from $14.75 to $15.50 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. FBR & Co reiterated a “buy” rating on shares of TCP Capital Corp. in a research report on Thursday. Finally, Citigroup Inc. lifted their price objective on shares of TCP Capital Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. TCP Capital Corp. currently has an average rating of “Buy” and a consensus target price of $16.22.
The company’s 50-day moving average is $15.73 and its 200-day moving average is $14.72.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Analysts forecast that TCP Capital Corp. will post $1.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.44 annualized dividend and a yield of 8.85%.
A hedge fund recently bought a new stake in TCP Capital Corp. stock. West Family Investments Inc. acquired a new stake in shares of TCP Capital Corp. (NASDAQ:TCPC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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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