TCP Capital Corp. (NASDAQ:TCPC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “TCP Capital Corp. is an externally managed specialty finance company focused on middle-market lending. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCP Capital Corp. is based in Santa Monica, CA. “

Several other research firms have also commented on TCPC. JMP Securities reissued a “buy” rating on shares of TCP Capital Corp. in a research report on Friday, November 11th. FBR & Co restated a “buy” rating and set a $17.50 price objective on shares of TCP Capital Corp. in a report on Wednesday, November 9th. DA Davidson restated a “buy” rating and set a $18.00 price objective on shares of TCP Capital Corp. in a report on Thursday, September 22nd. National Securities restated a “buy” rating and set a $17.00 price objective on shares of TCP Capital Corp. in a report on Thursday, September 22nd. Finally, Deutsche Bank AG lifted their price objective on TCP Capital Corp. from $14.75 to $15.50 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.50.

Analyst Recommendations for TCP Capital Corp. (NASDAQ:TCPC)

Shares of TCP Capital Corp. (NASDAQ:TCPC) opened at 16.61 on Wednesday. The firm has a market capitalization of $842.21 million, a P/E ratio of 15.57 and a beta of 0.67. The company’s 50 day moving average price is $16.24 and its 200 day moving average price is $15.73. TCP Capital Corp. has a one year low of $12.00 and a one year high of $16.85.

TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, November 8th. The investment management company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. TCP Capital Corp. had a return on equity of 13.16% and a net margin of 40.54%. On average, analysts expect that TCP Capital Corp. will post $1.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 8.67%. TCP Capital Corp.’s dividend payout ratio is currently 130.91%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Monarch Partners Asset Management LLC bought a new position in TCP Capital Corp. during the second quarter worth about $179,000. WFG Advisors LP raised its position in TCP Capital Corp. by 1.3% in the second quarter. WFG Advisors LP now owns 13,849 shares of the investment management company’s stock worth $212,000 after buying an additional 176 shares in the last quarter. Sigma Planning Corp bought a new position in TCP Capital Corp. during the second quarter worth about $229,000. Clinton Group Inc. bought a new position in TCP Capital Corp. during the second quarter worth about $233,000. Finally, National Asset Management Inc. bought a new position in TCP Capital Corp. during the second quarter worth about $294,000. Institutional investors and hedge funds own 48.89% of the company’s stock.

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About TCP Capital Corp.

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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