D.A. Davidson & CO. lifted its holdings in shares of TCP Capital Corp (NASDAQ:TCPC) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,184 shares of the investment management company’s stock after buying an additional 8,023 shares during the period. D.A. Davidson & CO.’s holdings in TCP Capital were worth $2,891,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Global X MANAGEMENT CO LLC grew its position in shares of TCP Capital by 51.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock valued at $189,000 after buying an additional 3,894 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its position in shares of TCP Capital by 3.4% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 171,231 shares of the investment management company’s stock valued at $2,824,000 after buying an additional 5,605 shares during the last quarter. Stifel Financial Corp grew its position in shares of TCP Capital by 5.1% during the 3rd quarter. Stifel Financial Corp now owns 133,836 shares of the investment management company’s stock valued at $2,205,000 after buying an additional 6,527 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of TCP Capital by 53.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,577 shares of the investment management company’s stock valued at $382,000 after buying an additional 7,853 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of TCP Capital by 2.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 339,712 shares of the investment management company’s stock valued at $5,602,000 after buying an additional 8,312 shares during the last quarter. 49.60% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on TCPC. National Securities restated a “buy” rating and issued a $19.00 target price on shares of TCP Capital in a research report on Thursday, November 9th. Ladenburg Thalmann Financial Services began coverage on shares of TCP Capital in a research report on Monday, November 20th. They issued a “buy” rating and a $17.00 target price for the company. Finally, BidaskClub upgraded shares of TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.00.
In related news, insider Mark Holdsworth purchased 5,000 shares of TCP Capital stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $14.61 per share, with a total value of $73,050.00. Following the purchase, the insider now owns 74,465 shares in the company, valued at approximately $1,087,933.65. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Howard Levkowitz purchased 7,900 shares of TCP Capital stock in a transaction dated Tuesday, January 30th. The stock was bought at an average cost of $15.28 per share, with a total value of $120,712.00. Following the completion of the purchase, the chief executive officer now owns 99,657 shares in the company, valued at approximately $1,522,758.96. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 26,400 shares of company stock valued at $393,692. 0.56% of the stock is owned by insiders.
TCP Capital Corp (NASDAQ:TCPC) opened at $14.71 on Friday. TCP Capital Corp has a 1 year low of $14.09 and a 1 year high of $17.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.76. The company has a market cap of $864.83, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.84 and a beta of 0.68.
TCP Capital announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 7th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the investment management company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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.
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