TCP Capital Corp. (TCPC) Receives $18.25 Consensus Target Price from Analysts

Shares of TCP Capital Corp. (NASDAQ:TCPC) have received a consensus rating of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $18.25.

TCPC has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $18.00 price objective on shares of TCP Capital Corp. and gave the company a “buy” rating in a research report on Friday, October 6th. BidaskClub raised shares of TCP Capital Corp. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. National Securities raised shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $19.00 in a research report on Monday, August 7th. Zacks Investment Research raised shares of TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, National Bank Financial raised shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 7th.

TCP Capital Corp. (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm 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%.

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Several large investors have recently added to or reduced their stakes in TCPC. Legal & General Group Plc raised its position in shares of TCP Capital Corp. by 11.0% in the first quarter. Legal & General Group Plc now owns 125,375 shares of the investment management company’s stock valued at $2,183,000 after purchasing an additional 12,425 shares during the period. Confluence Investment Management LLC raised its position in shares of TCP Capital Corp. by 3.8% in the second quarter. Confluence Investment Management LLC now owns 763,366 shares of the investment management company’s stock valued at $12,900,000 after purchasing an additional 28,203 shares during the period. Bank of Montreal Can bought a new position in shares of TCP Capital Corp. in the second quarter valued at approximately $761,000. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 valued at $54,570,000 after purchasing an additional 214,275 shares during the period. Finally, Advisors Capital Management LLC raised its position in shares of TCP Capital Corp. by 13.0% in the second quarter. Advisors Capital Management LLC now owns 311,883 shares of the investment management company’s stock valued at $5,271,000 after purchasing an additional 35,993 shares during the period. 53.43% of the stock is currently owned by 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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