Insider Buying: TCP Capital Corp (NASDAQ:TCPC) Director Acquires 1,000 Shares of Stock

TCP Capital Corp (NASDAQ:TCPC) Director Eric John Draut acquired 1,000 shares of TCP Capital stock in a transaction dated Monday, February 5th. The shares were purchased at an average cost of $14.23 per share, with a total value of $14,230.00. Following the completion of the transaction, the director now directly owns 51,532 shares of the company’s stock, valued at $733,300.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TCP Capital Corp (NASDAQ:TCPC) traded down $0.07 during mid-day trading on Thursday, hitting $14.52. The stock had a trading volume of 460,600 shares, compared to its average volume of 245,080. TCP Capital Corp has a 52 week low of $14.09 and a 52 week high of $17.47. 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 firm has a market capitalization of $857.78, a PE ratio of 10.30, a P/E/G ratio of 1.84 and a beta of 0.68.

TCP Capital declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 7th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the investment management company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC acquired a new position in TCP Capital during the second quarter valued at approximately $189,000. Global X MANAGEMENT CO LLC boosted its position in TCP Capital by 51.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock valued at $189,000 after purchasing an additional 3,894 shares during the last quarter. Trexquant Investment LP acquired a new position in TCP Capital during the third quarter valued at approximately $190,000. Hartland & Co. LLC acquired a new position in TCP Capital during the third quarter valued at approximately $218,000. Finally, Sigma Planning Corp acquired a new position in TCP Capital during the third quarter valued at approximately $242,000. 49.60% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on TCPC shares. Ladenburg Thalmann Financial Services started coverage on TCP Capital in a research report on Monday, November 20th. They set a “buy” rating and a $17.00 price objective for the company. National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of TCP Capital in a research report on Thursday, November 9th. Finally, BidaskClub raised TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. TCP Capital presently has an average rating of “Buy” and an average target price of $18.00.

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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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