TCP Capital Corp. (TCPC) Sees Large Volume Increase
TCP Capital Corp. (NASDAQ:TCPC) shares saw an uptick in trading volume on Thursday . 168,944 shares traded hands during trading, an increase of 7% from the previous session’s volume of 157,332 shares.The stock last traded at $15.50 and had previously closed at $15.55.
Several brokerages have issued reports on TCPC. Deutsche Bank AG cut their price objective on shares of TCP Capital Corp. from $15.00 to $14.80 and set a “hold” rating for the company in a research report on Thursday, May 12th. Zacks Investment Research downgraded shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Finally, National Securities reiterated a “buy” rating and issued a $17.00 price target on shares of TCP Capital Corp. in a research report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. TCP Capital Corp. currently has an average rating of “Buy” and a consensus price target of $16.10.
The firm’s 50-day moving average is $15.10 and its 200 day moving average is $14.34.
TCP Capital Corp. (NASDAQ:TCPC) last posted its quarterly earnings data on Tuesday, May 10th. The investment management company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Analysts expect that TCP Capital Corp. will post $1.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 9.28%. The ex-dividend date was Tuesday, June 14th.
In related news, CEO Howard Levkowitz acquired 5,000 shares of the stock in a transaction dated Friday, May 20th. The shares were purchased at an average price of $14.54 per share, for a total transaction of $72,700.00. Following the transaction, the chief executive officer now owns 95,339 shares in the company, valued at approximately $1,386,229.06. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Several hedge funds recently bought and sold shares of TCPC. Buckhead Capital Management LLC boosted its stake in TCP Capital Corp. by 13.6% in the fourth quarter. Buckhead Capital Management LLC now owns 114,506 shares of the investment management company’s stock valued at $1,595,000 after buying an additional 13,700 shares during the period. Neuberger Berman Group LLC boosted its stake in TCP Capital Corp. by 7.8% in the fourth quarter. Neuberger Berman Group LLC now owns 291,180 shares of the investment management company’s stock valued at $4,056,000 after buying an additional 21,005 shares during the period. Finally, Bank of Montreal Can boosted its stake in TCP Capital Corp. by 5,079.1% in the fourth quarter. Bank of Montreal Can now owns 77,686 shares of the investment management company’s stock valued at $1,083,000 after buying an additional 76,186 shares during the period.
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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