D.A. Davidson & CO. lifted its stake in TCP Capital Corp. (NASDAQ:TCPC) by 18.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,161 shares of the investment management company’s stock after buying an additional 28,295 shares during the quarter. D.A. Davidson & CO. owned approximately 0.31% of TCP Capital Corp. worth $2,987,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TCPC. Muzinich & Co. Inc. boosted its stake in shares of TCP Capital Corp. by 34.3% in the second 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 last quarter. Yorktown Management & Research Co Inc boosted its stake in shares of TCP Capital Corp. by 40.6% in the second quarter. Yorktown Management & Research Co Inc now owns 450,000 shares of the investment management company’s stock worth $7,605,000 after buying an additional 130,000 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of TCP Capital Corp. by 881.5% in the second quarter. GSA Capital Partners LLP now owns 109,876 shares of the investment management company’s stock worth $1,857,000 after buying an additional 98,681 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of TCP Capital Corp. by 28.1% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 420,261 shares of the investment management company’s stock worth $6,930,000 after buying an additional 92,106 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of TCP Capital Corp. by 27.3% in the second quarter. Van ECK Associates Corp now owns 418,273 shares of the investment management company’s stock worth $7,069,000 after buying an additional 89,728 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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A number of analysts have recently commented on the company. Ladenburg Thalmann Financial Services assumed coverage on TCP Capital Corp. in a research note on Monday. They issued a “buy” rating and a $17.00 target price on the stock. National Securities restated a “buy” rating and issued a $19.00 target price on shares of TCP Capital Corp. in a research note on Thursday, November 9th. Keefe, Bruyette & Woods set a $18.00 target price on TCP Capital Corp. and gave the stock a “buy” rating in a research note on Friday, October 6th. BidaskClub upgraded TCP Capital Corp. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, National Bank Financial upgraded TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 7th. One 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. The stock currently has an average rating of “Buy” and a consensus target price of $18.00.

TCP Capital Corp. (NASDAQ:TCPC) opened at $16.15 on Friday. The firm has a market capitalization of $949.50, a PE ratio of 9.34, a P/E/G ratio of 2.06 and a beta of 0.73. TCP Capital Corp. has a fifty-two week low of $15.55 and a fifty-two week 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 8.92%. TCP Capital Corp.’s payout ratio is 102.13%.

TCP Capital Corp. declared that its board has authorized a share repurchase program on Tuesday, November 7th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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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Institutional Ownership by Quarter for TCP Capital Corp. (NASDAQ:TCPC)

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