TCP Capital Corp. (NASDAQ:TCPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.

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 brokerages have also recently weighed in on TCPC. Keefe, Bruyette & Woods reissued a “buy” rating and set a $18.00 price objective on shares of TCP Capital Corp. in a report on Friday, April 28th. National Securities reaffirmed a “neutral” rating and issued a $17.00 price target on shares of TCP Capital Corp. in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG raised TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.63.

TCP Capital Corp. (NASDAQ TCPC) opened at 16.93 on Thursday. The firm’s 50-day moving average is $16.71 and its 200 day moving average is $16.94. TCP Capital Corp. has a 1-year low of $15.33 and a 1-year high of $17.47.

TCP Capital Corp. (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The firm had revenue of $46.23 million during the quarter, compared to analysts’ expectations of $40.37 million. TCP Capital Corp. had a return on equity of 12.93% and a net margin of 54.74%. Equities research analysts anticipate that TCP Capital Corp. will post $1.55 earnings per share for the current year.

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In other news, Director Brian F. Wruble purchased 10,000 shares of TCP Capital Corp. stock in a transaction on Friday, June 23rd. The stock was purchased at an average price of $16.63 per share, with a total value of $166,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $332,600. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. increased its position in TCP Capital Corp. by 26.1% in the first quarter. Muzinich & Co. Inc. now owns 1,948,410 shares of the investment management company’s stock worth $33,941,000 after buying an additional 403,805 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in TCP Capital Corp. by 7.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,229,000 shares of the investment management company’s stock worth $54,570,000 after buying an additional 214,275 shares during the period. UBS Group AG increased its position in TCP Capital Corp. by 19.3% in the first quarter. UBS Group AG now owns 1,323,758 shares of the investment management company’s stock worth $23,060,000 after buying an additional 213,748 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in TCP Capital Corp. by 88.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 301,842 shares of the investment management company’s stock worth $5,258,000 after buying an additional 141,796 shares during the period. Finally, Advisors Asset Management Inc. increased its position in TCP Capital Corp. by 17.3% in the second quarter. Advisors Asset Management Inc. now owns 441,269 shares of the investment management company’s stock worth $7,457,000 after buying an additional 64,950 shares during the period. 50.95% of the stock is owned by hedge funds and other institutional investors.

About TCP Capital Corp.

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

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