Yorktown Management & Research Co Inc Increases Holdings in TCP Capital Corp. (TCPC)

Yorktown Management & Research Co Inc grew its position in shares of TCP Capital Corp. (NASDAQ:TCPC) by 40.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 450,000 shares of the investment management company’s stock after buying an additional 130,000 shares during the quarter. TCP Capital Corp. accounts for 2.4% of Yorktown Management & Research Co Inc’s investment portfolio, making the stock its 8th largest holding. Yorktown Management & Research Co Inc’s holdings in TCP Capital Corp. were worth $7,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. raised its position in TCP Capital Corp. by 7.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,229,000 shares of the investment management company’s stock worth $54,570,000 after buying an additional 214,275 shares during the last quarter. Muzinich & Co. Inc. raised its position in TCP Capital Corp. by 26.1% during the 1st quarter. Muzinich & Co. Inc. now owns 1,948,410 shares of the investment management company’s stock worth $33,941,000 after buying an additional 403,805 shares during the last quarter. UBS Group AG raised its position in TCP Capital Corp. by 19.3% during the 1st quarter. UBS Group AG now owns 1,323,758 shares of the investment management company’s stock worth $23,060,000 after buying an additional 213,748 shares during the last quarter. Confluence Investment Management LLC raised its position in TCP Capital Corp. by 3.8% during the 2nd quarter. Confluence Investment Management LLC now owns 763,366 shares of the investment management company’s stock worth $12,900,000 after buying an additional 28,203 shares during the last quarter. Finally, Ares Management LLC raised its position in TCP Capital Corp. by 0.9% during the 1st quarter. Ares Management LLC now owns 453,342 shares of the investment management company’s stock worth $7,897,000 after buying an additional 4,000 shares during the last quarter. Institutional investors own 53.47% of the company’s stock.

A number of equities analysts have commented on the stock. National Bank Financial upgraded shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 7th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of TCP Capital Corp. and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of TCP Capital Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub downgraded shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, National Securities upgraded shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $19.00 in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.17.

Shares of TCP Capital Corp. (TCPC) traded up 0.50% during trading on Friday, hitting $15.94. 118,527 shares of the stock were exchanged. The stock has a 50-day moving average of $16.55 and a 200 day moving average of $16.87. TCP Capital Corp. has a 12-month low of $15.33 and a 12-month high of $17.47.

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 analysts’ consensus estimates of $0.38 by $0.05. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. The business had revenue of $46.23 million for the quarter, compared to analysts’ expectations of $40.37 million. Equities analysts forecast that TCP Capital Corp. will post $1.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date of this dividend is Thursday, September 14th. TCP Capital Corp.’s dividend payout ratio is currently 92.90%.

In related news, Director Brian F. Wruble acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average cost of $16.63 per share, for a total transaction of $166,300.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $332,600. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Yorktown Management & Research Co Inc Increases Holdings in TCP Capital Corp. (TCPC)” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2017/09/15/yorktown-management-research-co-inc-increases-holdings-in-tcp-capital-corp-tcpc.html.

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.

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

Receive News & Ratings for TCP Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCP Capital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply