TCP Capital Corp. (TCPC) Sets New 52-Week High at $16.42
Shares of TCP Capital Corp. (NASDAQ:TCPC) reached a new 52-week high on Monday . The company traded as high as $16.42 and last traded at $16.40, with a volume of 133,835 shares trading hands. The stock had previously closed at $16.19.
A number of research firms have recently weighed in on TCPC. FBR & Co reissued a “buy” rating on shares of TCP Capital Corp. in a research note on Thursday, August 18th. Citigroup Inc. increased their price objective on TCP Capital Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Zacks Investment Research raised TCP Capital Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. National Securities reissued a “buy” rating and set a $17.00 price objective on shares of TCP Capital Corp. in a research note on Wednesday, August 10th. Finally, JMP Securities increased their price objective on TCP Capital Corp. from $16.50 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.22.
The stock has a 50-day moving average price of $15.86 and a 200-day moving average price of $14.87.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.01. Equities analysts predict that TCP Capital Corp. will post $1.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 8.78%. The ex-dividend date is Wednesday, September 14th.
A hedge fund recently raised its stake in TCP Capital Corp. stock. Bank of Montreal Can boosted its position in TCP Capital Corp. (NASDAQ:TCPC) by 5,079.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,686 shares of the investment management company’s stock after buying an additional 76,186 shares during the period. Bank of Montreal Can’s holdings in TCP Capital Corp. were worth $1,083,000 at the end of the most recent quarter.
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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