Stifel Financial Corp Has $2.15 Million Stake in TCP Capital Corp. (TCPC)
Stifel Financial Corp grew its holdings in shares of TCP Capital Corp. (NASDAQ:TCPC) by 6.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,309 shares of the investment management company’s stock after buying an additional 8,245 shares during the quarter. Stifel Financial Corp’s holdings in TCP Capital Corp. were worth $2,154,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global X Management Co. LLC grew its stake in shares of TCP Capital Corp. by 49.8% during the first quarter. Global X Management Co. LLC now owns 7,578 shares of the investment management company’s stock valued at $132,000 after buying an additional 2,520 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in shares of TCP Capital Corp. during the second quarter valued at approximately $182,000. RFG Advisory Group LLC bought a new position in shares of TCP Capital Corp. during the second quarter valued at approximately $206,000. Oppenheimer & Co. Inc. grew its stake in shares of TCP Capital Corp. by 7.0% during the second quarter. Oppenheimer & Co. Inc. now owns 20,020 shares of the investment management company’s stock valued at $338,000 after buying an additional 1,306 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in shares of TCP Capital Corp. during the second quarter valued at approximately $370,000. 53.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on TCPC shares. National Securities raised TCP Capital Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $17.00 to $19.00 in a research note on Monday, August 7th. Keefe, Bruyette & Woods set a $18.00 target price on TCP Capital Corp. and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research raised TCP Capital Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 7th. Finally, BidaskClub cut TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.25.
TCP Capital Corp. (NASDAQ TCPC) opened at 16.34 on Monday. The company has a 50-day moving average price of $16.35 and a 200 day moving average price of $16.75. 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 posted its earnings results on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.05. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. The firm had revenue of $46.23 million during the quarter, compared to the consensus estimate of $40.37 million. Analysts anticipate that TCP Capital Corp. will post $1.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 8.81%. TCP Capital Corp.’s dividend payout ratio (DPR) is presently 92.90%.
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TCP Capital Corp. 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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