Ares Management LLC Continues to Hold Stake in TCP Capital Corp. (TCPC)
Ares Management LLC continued to hold its position in TCP Capital Corp. (NASDAQ:TCPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 453,342 shares of the investment management company’s stock at the end of the second quarter. TCP Capital Corp. accounts for 0.2% of Ares Management LLC’s holdings, making the stock its 18th biggest holding. Ares Management LLC’s holdings in TCP Capital Corp. were worth $7,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Shelton Capital Management lifted its stake in shares of TCP Capital Corp. by 108.3% in the second quarter. Shelton Capital Management now owns 62,500 shares of the investment management company’s stock worth $1,056,000 after buying an additional 32,500 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of TCP Capital Corp. during the 2nd quarter worth $189,000. Stifel Financial Corp boosted its holdings in shares of TCP Capital Corp. by 6.9% during the 2nd quarter. Stifel Financial Corp now owns 127,309 shares of the investment management company’s stock worth $2,154,000 after buying an additional 8,245 shares during the period. Muzinich & Co. Inc. boosted its holdings in shares of TCP Capital Corp. by 34.3% during the 2nd quarter. Muzinich & Co. Inc. now owns 2,616,821 shares of the investment management company’s stock worth $44,224,000 after buying an additional 668,411 shares during the period. Finally, OxFORD Asset Management LLP bought a new stake in shares of TCP Capital Corp. during the 2nd quarter worth $370,000. 53.33% of the stock is currently owned by institutional investors.
TCPC has been the topic of a number of research analyst reports. National Bank Financial upgraded shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 7th. BidaskClub downgraded shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Zacks Investment Research raised shares of TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $18.00 target price on shares of TCP Capital Corp. in a research report on Tuesday, July 25th. Finally, National Securities upgraded shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $19.00 in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. TCP Capital Corp. currently has an average rating of “Buy” and a consensus target price of $18.20.
ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/10/04/ares-management-llc-continues-to-hold-stake-in-tcp-capital-corp-tcpc.html.
Shares of TCP Capital Corp. (NASDAQ:TCPC) traded up 0.67% on Wednesday, hitting $16.65. The stock had a trading volume of 102,073 shares. The stock’s 50-day moving average price is $16.37 and its 200 day moving average price is $16.78. TCP Capital Corp. has a 52 week low of $15.33 and a 52 week high of $17.47.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $46.23 million for the quarter, compared to analyst estimates of $40.37 million. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. On average, analysts predict that TCP Capital Corp. will post $1.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.36 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 8.71%. TCP Capital Corp.’s dividend payout ratio (DPR) is currently 92.90%.
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.
Receive News & Stock Ratings for TCP Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCP Capital Corp. and related stocks with our FREE daily email newsletter.