Press coverage about TCP Capital Corp. (NASDAQ:TCPC) has trended somewhat positive on Friday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. TCP Capital Corp. earned a daily sentiment score of 0.21 on Accern’s scale. Accern also assigned news stories about the investment management company an impact score of 46.718689098312 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of TCP Capital Corp. (TCPC) traded down 0.66% during trading on Friday, reaching $16.52. 115,389 shares of the company’s stock were exchanged. TCP Capital Corp. has a 12-month low of $15.33 and a 12-month high of $17.47. The stock has a 50-day moving average price of $16.73 and a 200 day moving average price of $16.93.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $46.23 million for the quarter, compared to analyst estimates of $40.37 million. TCP Capital Corp. had a return on equity of 12.93% and a net margin of 54.74%. Analysts forecast that TCP Capital Corp. will post $1.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 8.72%. The ex-dividend date of this dividend is Thursday, September 14th. TCP Capital Corp.’s dividend payout ratio (DPR) is 92.90%.
Several analysts recently weighed in on TCPC shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $18.00 price objective on shares of TCP Capital Corp. in a report on Tuesday, July 25th. Deutsche Bank AG upgraded TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, May 11th. National Securities upgraded TCP Capital Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $19.00 in a report on Monday, August 7th. Zacks Investment Research upgraded TCP Capital Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, National Bank Financial upgraded TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. TCP Capital Corp. currently has a consensus rating of “Buy” and an average price target of $18.17.
In other news, Director Brian F. Wruble purchased 10,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were bought at an average price of $16.63 per share, with a total value of $166,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $332,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.
TCP Capital Corp. Company 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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