Stifel Financial Corp raised its stake in shares of TCP Capital Corp (NASDAQ:TCPC) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,836 shares of the investment management company’s stock after buying an additional 6,527 shares during the quarter. Stifel Financial Corp owned about 0.23% of TCP Capital worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its holdings in TCP Capital by 7.0% during the 2nd 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 in the last quarter. Global X MANAGEMENT CO LLC grew its holdings in TCP Capital by 51.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock valued at $189,000 after buying an additional 3,894 shares in the last quarter. Caxton Associates LP grew its holdings in TCP Capital by 10.1% during the 2nd quarter. Caxton Associates LP now owns 44,614 shares of the investment management company’s stock valued at $754,000 after buying an additional 4,105 shares in the last quarter. Allen Investment Management LLC grew its holdings in TCP Capital by 8.8% during the 2nd quarter. Allen Investment Management LLC now owns 57,427 shares of the investment management company’s stock valued at $971,000 after buying an additional 4,645 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware grew its holdings in TCP Capital by 3.4% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 171,231 shares of the investment management company’s stock valued at $2,824,000 after buying an additional 5,605 shares in the last quarter. 49.52% of the stock is owned by institutional investors and hedge funds.

TCP Capital Corp (NASDAQ:TCPC) opened at $15.38 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $907.16, a P/E ratio of 8.97, a PEG ratio of 1.98 and a beta of 0.71. TCP Capital Corp has a 52-week low of $15.27 and a 52-week high of $17.47.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.36%. TCP Capital’s dividend payout ratio is currently 105.11%.

TCP Capital declared that its board has approved a share repurchase plan on Tuesday, November 7th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the investment management company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

A number of research firms have recently commented on TCPC. Keefe, Bruyette & Woods set a $18.00 target price on TCP Capital and gave the company a “buy” rating in a research report on Friday, October 6th. BidaskClub upgraded TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Ladenburg Thalmann Financial Services began coverage on TCP Capital in a research report on Monday, November 20th. They set a “buy” rating and a $17.00 target price for the company. Finally, National Securities reiterated a “buy” rating and set a $19.00 target price on shares of TCP Capital in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $18.00.

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About TCP Capital

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 (NASDAQ:TCPC)

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