Media stories about TCP Capital (NASDAQ:TCPC) have trended somewhat positive recently, according to Accern Sentiment. The research firm ranks the sentiment of press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. TCP Capital earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave headlines about the investment management company an impact score of 47.5577385555786 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- BlackRock to buy US private credit manager Tennenbaum Capital Partners (banking-business-review.com)
- BlackRock to take over Tennenbaum Capital Partners (verdict.co.uk)
- BlackRock snags TCP, as private credit’s high yield appeals (themiddlemarket.com)
- BlackRock Inc.: BlackRock, Inc. to Acquire Private Credit Manager Tennenbaum Capital Partners (twst.com)
- BlackRock buying TCP Capital’s manager (seekingalpha.com)
TCPC has been the subject of several research analyst reports. BidaskClub upgraded TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 24th. ValuEngine upgraded TCP Capital from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Wells Fargo decreased their price objective on TCP Capital from $17.25 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. National Securities reiterated a “buy” rating and issued a $19.00 price objective on shares of TCP Capital in a research report on Wednesday, February 28th. Finally, JMP Securities decreased their price objective on TCP Capital from $17.50 to $17.00 and set a “market outperform” rating for the company in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. TCP Capital presently has a consensus rating of “Buy” and a consensus price target of $17.67.
TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.12. TCP Capital had a return on equity of 12.63% and a net margin of 42.13%. The business had revenue of $47.11 million during the quarter, compared to analyst estimates of $44.77 million. equities analysts forecast that TCP Capital will post 1.57 EPS for the current year.
TCP Capital declared that its board has authorized a share repurchase program on Tuesday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the investment management company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 9.99%. The ex-dividend date was Thursday, March 15th. TCP Capital’s dividend payout ratio (DPR) is currently 72.36%.
In other news, CEO Howard Levkowitz purchased 5,000 shares of TCP Capital stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $14.47 per share, with a total value of $72,350.00. Following the transaction, the chief executive officer now directly owns 111,657 shares in the company, valued at approximately $1,615,676.79. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathleen A. Corbet purchased 2,500 shares of TCP Capital stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $15.22 per share, with a total value of $38,050.00. Following the transaction, the director now owns 25,000 shares in the company, valued at $380,500. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 26,400 shares of company stock valued at $393,692. Insiders own 0.56% of the company’s stock.
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.
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