Rajneesh Vig Acquires 5,000 Shares of TCP Capital Corp (TCPC) Stock

TCP Capital Corp (NASDAQ:TCPC) COO Rajneesh Vig acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $15.06 per share, with a total value of $75,300.00. Following the purchase, the chief operating officer now directly owns 32,750 shares in the company, valued at approximately $493,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of TCP Capital Corp (TCPC) traded down $0.07 during mid-day trading on Thursday, reaching $14.52. 460,600 shares of the company traded hands, compared to its average volume of 245,292. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.76. The stock has a market cap of $857.78, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.68. TCP Capital Corp has a one year low of $14.09 and a one year high of $17.47.

TCP Capital announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 7th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the investment management company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Several research analysts have commented on the stock. BidaskClub upgraded shares of TCP Capital from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Ladenburg Thalmann Financial Services assumed coverage on shares of TCP Capital in a report on Monday, November 20th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, National Securities reiterated a “buy” rating and issued a $19.00 price target on shares of TCP Capital in a research note 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 stock presently has a consensus rating of “Buy” and a consensus target price of $18.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global X MANAGEMENT CO LLC boosted its holdings in shares of 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 acquiring an additional 3,894 shares during the last quarter. Caxton Associates LP boosted its holdings in shares of TCP Capital by 10.1% in the second quarter. Caxton Associates LP now owns 44,614 shares of the investment management company’s stock worth $754,000 after buying an additional 4,105 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in shares of TCP Capital by 3.4% in the third quarter. Mckinley Capital Management LLC Delaware now owns 171,231 shares of the investment management company’s stock worth $2,824,000 after buying an additional 5,605 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of TCP Capital by 7.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 85,070 shares of the investment management company’s stock worth $1,300,000 after buying an additional 5,751 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of TCP Capital by 5.1% in the third quarter. Stifel Financial Corp now owns 133,836 shares of the investment management company’s stock worth $2,205,000 after buying an additional 6,527 shares during the last quarter. 49.60% of the stock is currently owned by hedge funds and other 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.

Insider Buying and Selling by Quarter for TCP Capital (NASDAQ:TCPC)

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