TCP Capital Corp. (TCPC) Sees Large Volume Increase
Shares of TCP Capital Corp. (NASDAQ:TCPC) saw an uptick in trading volume on Thursday . 168,944 shares traded hands during mid-day 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 research firms have recently weighed in on TCPC. Zacks Investment Research lowered TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Deutsche Bank AG lowered their price objective on 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. Finally, National Securities reissued a “buy” rating and issued a $17.00 price objective 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 given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $16.10.
The company’s 50 day moving average is $15.15 and its 200 day moving average is $14.36.
TCP Capital Corp. (NASDAQ:TCPC) last announced its earnings results on Tuesday, May 10th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.01. Equities analysts anticipate that TCP Capital Corp. will post $1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 9.23%. The ex-dividend date was Tuesday, June 14th.
In related news, CEO Howard Levkowitz purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average cost of $14.54 per share, with a total value of $72,700.00. Following the completion of the purchase, the chief executive officer now directly owns 95,339 shares in the company, valued at $1,386,229.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently raised its position in TCP Capital Corp. stock. Buckhead Capital Management LLC increased its position in TCP Capital Corp. (NASDAQ:TCPC) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,506 shares of the investment management company’s stock after buying an additional 13,700 shares during the period. Buckhead Capital Management LLC’s holdings in TCP Capital Corp. were worth $1,595,000 at the end of the most recent reporting 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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