TCP Capital (NASDAQ:TCPC) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Other equities research analysts also recently issued reports about the company. ValuEngine downgraded TCP Capital from a “hold” rating to a “sell” rating in a research note on Wednesday. National Securities reissued a “buy” rating and issued a $19.00 price objective on shares of TCP Capital in a research note on Wednesday, February 28th. JMP Securities dropped their target price on TCP Capital from $17.50 to $17.00 and set a “market outperform” rating on the stock in a research report on Thursday, March 1st. Finally, Wells Fargo dropped their target price on TCP Capital from $17.25 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.67.
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Shares of TCP Capital stock opened at $14.55 on Friday. The stock has a market capitalization of $848.58, a P/E ratio of 7.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.56 and a quick ratio of 5.56. TCP Capital has a 1 year low of $13.72 and a 1 year high of $17.25.
TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.12. The firm had revenue of $47.11 million during the quarter, compared to the consensus estimate of $44.77 million. TCP Capital had a return on equity of 12.63% and a net margin of 42.13%. research analysts forecast that TCP Capital will post 1.57 earnings per share for the current year.
TCP Capital declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the investment management company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Howard Levkowitz bought 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $14.47 per share, with a total value of $72,350.00. Following the transaction, the chief executive officer now directly owns 111,657 shares in the company, valued at approximately $1,615,676.79. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 11,000 shares of company stock worth $159,630. Insiders own 0.56% of the company’s stock.
A number of hedge funds have recently modified their holdings of TCPC. Canal Capital Management LLC acquired a new position in TCP Capital in the 4th quarter worth about $245,000. Virtu Financial LLC acquired a new position in TCP Capital in the 4th quarter worth about $261,000. Oppenheimer & Co. Inc. increased its position in TCP Capital by 39.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 28,200 shares of the investment management company’s stock worth $401,000 after purchasing an additional 7,937 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in TCP Capital in the 1st quarter worth about $672,000. Finally, State of Tennessee Treasury Department acquired a new position in TCP Capital in the 4th quarter worth about $981,000. 52.96% of the stock is currently owned by institutional investors.
TCP Capital Company Profile
TCP Capital Corp. is an externally managed, 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. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.