TCP Capital (TCPC) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of TCP Capital (NASDAQ:TCPC) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning.

Several other equities research analysts have also weighed in on TCPC. Ladenburg Thalmann Financial Services assumed coverage on TCP Capital in a report on Monday, November 20th. They issued a buy rating and a $17.00 price objective for the company. National Securities reissued a buy rating and issued a $19.00 price objective on shares of TCP Capital in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $18.00.

Shares of TCP Capital (NASDAQ TCPC) opened at $14.50 on Monday. TCP Capital has a 12-month low of $14.09 and a 12-month high of $17.47. The stock has a market capitalization of $852.49, a price-to-earnings ratio of 10.58, a PEG ratio of 1.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.18 and a current ratio of 1.18.

TCP Capital (NASDAQ:TCPC) last announced its earnings results on Tuesday, November 7th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. TCP Capital had a return on equity of 12.17% and a net margin of 49.53%. The firm had revenue of $43.29 million during the quarter, compared to analyst estimates of $43.45 million. sell-side analysts predict that TCP Capital will post 1.57 earnings per share for the current year.

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

In other news, CEO Howard Levkowitz acquired 7,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average price of $15.28 per share, with a total value of $120,712.00. Following the acquisition, the chief executive officer now owns 99,657 shares in the company, valued at approximately $1,522,758.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen A. Corbet acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average cost of $15.22 per share, with a total value of $38,050.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at approximately $380,500. The disclosure for this purchase can be found here. In the last three months, insiders purchased 21,400 shares of company stock valued at $321,342. 0.56% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TCPC. Atlantic Trust Group LLC purchased a new stake in TCP Capital in the 3rd quarter worth about $1,786,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in TCP Capital by 28.1% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 420,261 shares of the investment management company’s stock worth $6,930,000 after purchasing an additional 92,106 shares during the period. Taylor Frigon Capital Management LLC bought a new position in TCP Capital in the 4th quarter worth about $1,403,000. Monument Capital Management bought a new position in TCP Capital in the 4th quarter worth about $1,231,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in TCP Capital by 2.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,305,850 shares of the investment management company’s stock worth $54,513,000 after purchasing an additional 76,850 shares during the period. 49.49% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for TCP Capital (NASDAQ:TCPC)

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