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. Its investments may include an equity component and may make equity investments directly. It intends to focus on privately negotiated investments in debt of middle-market companies. It may make investments of all kinds and at all levels of the capital structure, including in equity interests, such as preferred or common stock and warrants or options received in connection with its debt investments. As of December 31, 2016, its investment portfolio consisted of 90 portfolio companies. Tennenbaum Capital Partners, LLC is the investment manager and advisor of the Company.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed-End Fund - Debt
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:TCPC
- CUSIP: 87238Q10
- Web: www.tcpcapital.com
- 50 Day Moving Avg: $17.05
- 200 Day Moving Avg: $16.95
- 52 Week Range: $14.43 - $17.47
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 10.78
- P/E Growth: 2.79
- Annual Dividend: $1.44
- Dividend Yield: 8.4%
- Net Margins: 40.54%
- Return on Equity: 13.16%
- Return on Assets: 7.41%
- Debt-to-Equity Ratio: 0.80%
- Current Ratio: 11.96%
- Quick Ratio: 11.96%
- Average Volume: 239,351 shs.
- Beta: 0.68
Frequently Asked Questions for TCP Capital Corp (NASDAQ:TCPC)
What is TCP Capital Corp's stock symbol?
TCP Capital Corp trades on the NASDAQ under the ticker symbol "TCPC."
How often does TCP Capital Corp pay dividends? What is the dividend yield for TCP Capital Corp?
TCP Capital Corp announced a quarterly dividend on Thursday, May 11th. Stockholders of record on Friday, June 16th will be given a dividend of $0.36 per share on Friday, June 30th. This represents a $1.44 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend is Wednesday, June 14th. View TCP Capital Corp's Dividend History.
How will TCP Capital Corp's stock buyback program work?
TCP Capital Corp declared that its board has authorized a share repurchase plan on Monday, April 10th 2017, which authorizes the company to repurchase $50,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.
How were TCP Capital Corp's earnings last quarter?
TCP Capital Corp (NASDAQ:TCPC) announced its quarterly earnings results on Tuesday, May, 9th. The company reported $0.47 EPS for the quarter, topping the Zacks' consensus estimate of $0.38 by $0.09. The business had revenue of $39.34 million for the quarter, compared to analysts' expectations of $38.75 million. TCP Capital Corp had a net margin of 40.54% and a return on equity of 13.16%. View TCP Capital Corp's Earnings History.
Where is TCP Capital Corp's stock going? Where will TCP Capital Corp's stock price be in 2017?
7 equities research analysts have issued 12 month price objectives for TCP Capital Corp's stock. Their predictions range from $15.00 to $18.00. On average, they expect TCP Capital Corp's share price to reach $17.29 in the next year. View Analyst Ratings for TCP Capital Corp.
What are analysts saying about TCP Capital Corp stock?
Here are some recent quotes from research analysts about TCP Capital Corp stock:
- 1. According to Zacks Investment Research, "TCP Capital Corp. is an externally managed specialty finance company focused on middle-market lending. The Company's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCP Capital Corp. is based in Santa Monica, CA. " (5/17/2017)
- 2. National Securities analysts commented, "• TCP had a strong quarter with the portfolio at fair value growing to $1.34 billion from $1.31 billion Q/Q, driving NII/share of $0.38 which matched consensus but fell a penny short of our own estimate. We had modeled more prepayment fees for the quarter which didn’t materialize.
• The 2Q17 equity offering, which we expect will generate net proceeds of $93.6 million, should serve to deleverage the balance sheet and lower D/E to 0.60x from 0.78x Q/Q. This should enable strong portfolio growth through the remainder of 2017 without the need to issue additional equity and as a result we expect modest incremental improvements in NII/share through 2H17.
• Asset quality remains very strong at TCP with non-accruals at 0.4% of the portfolio at fair value, in-line with the prior quarter. As a result of continued sound credit quality coupled with sound capital management, TCP’s NAV/share increased by a penny Q/Q to $14.92 and we expect the highly accretive 2Q17 equity issuance to bolster NAV/share to $15.06 as of 6/30/17.
• We are revising our 2017 NII/share estimate to $1.56 from $1.54 and are maintaining our 2018 NII/share estimate of $1.61." (5/11/2017)
Are investors shorting TCP Capital Corp?
TCP Capital Corp saw a drop in short interest during the month of April. As of April 28th, there was short interest totalling 275,795 shares, a drop of 53.0% from the April 13th total of 586,748 shares. Based on an average daily volume of 542,738 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.5% of the company's stock are sold short.
Who are some of TCP Capital Corp's key competitors?
Who owns TCP Capital Corp stock?
TCP Capital Corp's stock is owned by a variety of of institutional and retail investors. Top institutional investors include Burgundy Asset Management Ltd. (5.90%), CNO Financial Group Inc. (3.79%), Muzinich & Co. Inc. (3.67%), UBS Group AG (2.50%), Alliancebernstein L.P. (1.56%) and Confluence Investment Management LLC (0.00%). Company insiders that own TCP Capital Corp stock include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Institutional Ownership Trends for TCP Capital Corp.
Who sold TCP Capital Corp stock? Who is selling TCP Capital Corp stock?
TCP Capital Corp's stock was sold by a variety of institutional investors in the last quarter, including Ameriprise Financial Inc., Burgundy Asset Management Ltd., Advisors Capital Management LLC, Alliancebernstein L.P., State of New Jersey Common Pension Fund D, Stifel Financial Corp, P.A.W. Capital Corp and California Public Employees Retirement System. View Insider Buying and Selling for TCP Capital Corp.
Who bought TCP Capital Corp stock? Who is buying TCP Capital Corp stock?
TCP Capital Corp's stock was purchased by a variety of institutional investors in the last quarter, including Muzinich & Co. Inc., UBS Group AG, Sumitomo Mitsui Asset Management Company LTD, Wexford Capital LP, Van ECK Associates Corp, Advisors Asset Management Inc., Advantage Investment Management LLC and Caxton Associates LP. Company insiders that have bought TCP Capital Corp stock in the last two years include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Insider Buying and Selling for TCP Capital Corp.
How do I buy TCP Capital Corp stock?
Shares of TCP Capital Corp can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
How much does a share of TCP Capital Corp stock cost?
One share of TCP Capital Corp stock can currently be purchased for approximately $17.04.
Earnings History for TCP Capital Corp (NASDAQ:TCPC)Earnings History by Quarter for TCP Capital Corp (NASDAQ:TCPC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|5/9/2017||Q1 2017||$0.38||$0.47||$38.75 million||$39.34 million||View||Listen|
|11/8/2016||Q316||$0.38||$0.39||$36.42 million||$38.47 million||View||Listen|
|8/9/2016||Q216||$0.39||$0.38||$35.22 million||$35.60 million||View||N/A|
|5/10/2016||Q116||$0.39||$0.38||$35.38 million||$34.59 million||View||Listen|
|2/29/2016||Q415||$0.40||$0.43||$36.23 million||$39.62 million||View||Listen|
|11/5/2015||Q315||$0.39||$0.40||$35.75 million||$35.50 million||View||Listen|
|8/6/2015||Q215||$0.40||$0.44||$34.59 million||$38.94 million||View||Listen|
|5/7/2015||Q115||$0.38||$0.47||$32.87 million||$32.82 million||View||N/A|
|3/10/2015||Q414||$0.39||$0.40||$30.47 million||$32.14 million||View||Listen|
|11/6/2014||Q214||$0.38||$0.38||$26.42 million||$27.19 million||View||Listen|
|8/7/2014||Q2||$0.38||$0.40||$23.19 million||$24.59 million||View||N/A|
|5/8/2014||Q114||$0.37||$0.39||$22.28 million||$22.67 million||View||N/A|
|8/8/2013||Q2 2013||$0.41||$0.38||$15.49 million||View||N/A|
|5/9/2013||Q1 2013||$0.39||$0.49||$14.67 million||View||N/A|
|3/7/2013||Q4 2012||$0.46||$0.51||$12.81 million||View||N/A|
Earnings Estimates for TCP Capital Corp (NASDAQ:TCPC)
2017 EPS Consensus Estimate: $1.56
2018 EPS Consensus Estimate: $1.58
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for TCP Capital Corp (NASDAQ:TCPC)
|Payout Ratio:||130.91% (Trailing 12 Months of Earnings) |
94.12% (Based on This Year's Estimates)
91.14% (Based on Next Year's Estimates)
Dividend History by Quarter for TCP Capital Corp (NASDAQ:TCPC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for TCP Capital Corp (NASDAQ:TCPC)
Insider Ownership Percentage: 0.53%Insider Trades by Quarter for TCP Capital Corp (NASDAQ:TCPC)
Institutional Ownership Percentage: 54.87%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|4/20/2017||Kathleen A Corbet||Director||Buy||3,500||$16.54||$57,890.00|| |
|5/27/2016||Paul L Davis||CFO||Buy||500||$14.48||$7,240.00|| |
|5/20/2016||Howard Levkowitz||CEO||Buy||5,000||$14.54||$72,700.00|| |
|1/22/2016||Brian F Wruble||Director||Buy||3,000||$12.86||$38,580.00|| |
|1/22/2016||Howard Levkowitz||CEO||Buy||5,000||$12.87||$64,350.00|| |
|1/22/2016||Rajneesh Vig||COO||Buy||4,000||$12.96||$51,840.00|| |
|12/18/2015||Howard Levkowitz||CEO||Buy||3,000||$14.00||$42,000.00|| |
|12/18/2015||Peter E. Schwab||Director||Buy||3,500||$14.07||$49,245.00|| |
|12/11/2015||Eric John Draut||Director||Buy||1,000||$14.42||$14,420.00|| |
|11/16/2015||Howard Levkowitz||CEO||Buy||5,000||$15.25||$76,250.00|| |
|11/11/2015||Brian F Wruble||Director||Buy||6,000||$15.14||$90,840.00|| |
|9/28/2015||Paul L Davis||CFO||Buy||1,000||$14.24||$14,240.00|| |
|9/14/2015||Rajneesh Vig||COO||Buy||3,750||$14.90||$55,875.00|| |
|6/26/2015||Howard Levkowitz||CEO||Buy||5,000||$15.38||$76,900.00|| |
|10/15/2014||Elizabeth Greenwood||Insider||Buy||1,000||$15.21||$15,210.00|| |
|10/15/2014||Peter E Schwab||Director||Buy||5,000||$15.41||$77,050.00|| |
|10/15/2014||Rajneesh Vig||COO||Buy||3,000||$15.19||$45,570.00|| |
|10/10/2014||Mark Holdsworth||Insider||Buy||5,000||$15.81||$79,050.00|| |
|5/14/2014||Mark Holdsworth||Insider||Buy||10,000||$15.86||$158,600.00|| |
|5/13/2014||Todd Jaquez-Fissori||Director||Buy||1,200||$15.81||$18,972.00|| |
|5/12/2014||Howard Levkowitz||CEO||Buy||5,000||$15.90||$79,500.00|| |
|8/19/2013||Eric John Draut||Director||Buy||1,000||$15.05||$15,050.00|| |
|8/16/2013||Franklin Johnson||Director||Buy||3,280||$15.23||$49,954.40|| |
|8/13/2013||Howard Levkowitz||CEO||Buy||10,000||$15.28||$152,800.00|| |
|6/5/2013||Franklin Johnson||Director||Buy||3,193||$15.70||$50,130.10|| |
|12/17/2012||Howard Levkowitz||CEO||Buy||2,300||$14.72||$33,856.00|| |
|12/12/2012||Mark Holdsworth||Insider||Buy||10,000||$14.82||$148,200.00|| |
|11/28/2012||Rajneesh Vig||President||Buy||10,000||$14.99||$149,900.00|| |
Headline Trends for TCP Capital Corp (NASDAQ:TCPC)
Latest Headlines for TCP Capital Corp (NASDAQ:TCPC)
|$0.38 Earnings Per Share Expected for TCP Capital Corp (TCPC) This Quarter|
www.americanbankingnews.com - May 26 at 6:26 PM
|TCP Capital Corp (TCPC) Stock Rating Lowered by Zacks Investment Research|
www.americanbankingnews.com - May 17 at 8:58 AM
|TCP Capital Corp (TCPC) Upgraded at Deutsche Bank AG|
www.americanbankingnews.com - May 14 at 8:47 AM
|Short Interest in TCP Capital Corp (TCPC) Decreases By 53.0%|
www.americanbankingnews.com - May 13 at 7:22 AM
|DA Davidson Comments on TCP Capital Corp's FY2017 Earnings (TCPC)|
www.americanbankingnews.com - May 12 at 11:46 AM
|Q2 2017 EPS Estimates for TCP Capital Corp (TCPC) Cut by Analyst|
www.americanbankingnews.com - May 12 at 8:04 AM
|TCP Capital Corp Announces Quarterly Dividend of $0.36 (TCPC)|
www.americanbankingnews.com - May 11 at 7:14 PM
|TCP Capital Corp (TCPC) Given Neutral Rating at National Securities|
www.americanbankingnews.com - May 11 at 4:46 PM
|Q3 2017 EPS Estimates for TCP Capital Corp (TCPC) Lowered by DA Davidson|
www.americanbankingnews.com - May 11 at 9:28 AM
|TCP Capital Corp (TCPC) Posts Earnings Results, Beats Estimates By $0.09 EPS|
www.americanbankingnews.com - May 10 at 5:42 PM
|TCP Capital's (TCPC) CEO Howard Levkowitz on Q1 2017 Results - Earnings Call Transcript|
seekingalpha.com - May 10 at 10:26 AM
|Edited Transcript of TCPC earnings conference call or presentation 9-May-17 5:00pm GMT|
finance.yahoo.com - May 10 at 10:26 AM
|TCP Capital Corp (TCPC) Raised to "Hold" at Zacks Investment Research|
www.americanbankingnews.com - May 10 at 9:20 AM
|BRIEF-TCP Capital Q2 loss per share $0.01|
www.reuters.com - May 9 at 7:38 PM
|TCP Capital Corp. Announces First Quarter 2017 Financial Results Including Net Investment Income Of $0.38 Per Share; Second Quarter Dividend Of $0.36 Per Share|
finance.yahoo.com - May 9 at 7:38 PM
|Investor Network: TCP Capital Corp. to Host Earnings Call|
finance.yahoo.com - May 9 at 10:10 AM
|TCP Capital tops Street 1Q forecasts|
marketbeat.com - May 9 at 8:42 AM
|TCP Capital Corp (TCPC) Expected to Announce Quarterly Sales of $38.75 Million|
www.americanbankingnews.com - May 5 at 3:32 PM
|TCP Capital Corp (TCPC) Earns Daily Media Impact Rating of 0.44|
www.americanbankingnews.com - May 3 at 4:20 PM
| Analysts Expect TCP Capital Corp (TCPC) Will Post Earnings of $0.38 Per Share|
www.americanbankingnews.com - May 3 at 9:42 AM
|TCP Capital Corp (TCPC) Given Average Recommendation of "Buy" by Analysts|
www.americanbankingnews.com - May 3 at 8:40 AM
|TCP Capital Corp (TCPC) Given Daily Coverage Optimism Rating of -0.12|
www.americanbankingnews.com - April 30 at 11:39 AM
|TCP Capital Corp (TCPC) Rating Reiterated by Keefe, Bruyette & Woods|
www.americanbankingnews.com - April 28 at 2:58 PM
|Somewhat Favorable Press Coverage Somewhat Likely to Affect TCP Capital Corp (TCPC) Stock Price|
www.americanbankingnews.com - April 27 at 7:50 PM
|TCP Capital Equity Offering: Is It Still A Buy?|
seekingalpha.com - April 23 at 8:47 PM
|Insider Invests in TCP Capital|
finance.yahoo.com - April 23 at 8:47 PM
|TCP Capital Corp (TCPC) Earns Media Impact Rating of 0.18|
www.americanbankingnews.com - April 23 at 11:26 AM
|TCP Capital (TCPC) Reports In-Line EPS Guidance between $0.37 and $0.39|
www.streetinsider.com - April 21 at 7:56 PM
|TCP Capital Corp. Announces Pricing Of Public Offering Of Common Shares|
finance.yahoo.com - April 20 at 9:02 PM
|Insider Buying: TCP Capital Corp (TCPC) Director Acquires 3,500 Shares of Stock|
www.americanbankingnews.com - April 20 at 8:09 PM
|Somewhat Negative Press Coverage Extremely Likely to Affect TCP Capital Corp (TCPC) Share Price|
www.americanbankingnews.com - April 20 at 1:31 PM
|TCP Capital (TCPC) Commences 5M Share Offering of Common Stock|
www.streetinsider.com - April 19 at 8:12 PM
|TCP Capital Corp. Announces Certain Preliminary Financial Estimates for the Three Months Ended March 31, 2017|
finance.yahoo.com - April 19 at 8:12 PM
|TCP Capital Corp. Announces Public Offering Of Common Shares|
finance.yahoo.com - April 19 at 8:12 PM
|TCP Capital raising capital; shares down 1.45%|
seekingalpha.com - April 19 at 4:50 PM
|TCP Capital Corp (TCPC) Given Daily Media Impact Rating of 0.31|
www.americanbankingnews.com - April 14 at 7:10 PM
|TCP Capital Corp (TCPC) Expected to Post Quarterly Sales of $38.98 Million|
www.americanbankingnews.com - April 14 at 2:42 PM
|Zacks: Analysts Expect TCP Capital Corp (TCPC) to Post $0.38 EPS|
www.americanbankingnews.com - April 12 at 7:55 AM
|TCP Capital Corp (TCPC) Board of Directors Declares Stock Buyback Program|
www.americanbankingnews.com - April 10 at 9:21 AM
|Five Yields Up To 10% With 40% Price Upside, Too|
finance.yahoo.com - April 9 at 8:36 AM
|TCP Capital Corp (TCPC) Receives Average Rating of "Hold" from Analysts|
www.americanbankingnews.com - April 7 at 9:05 PM
|Five 8-10% Yielders That Can Actually Grow Your Portfolio, Too!|
www.nasdaq.com - April 7 at 12:56 PM
|TCP Capital Corp. Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, …|
finance.yahoo.com - April 7 at 12:56 PM
|TCP Capital Corp. Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, 2017|
finance.yahoo.com - April 7 at 12:56 PM
|TCP Capital Corp (TCPC) Short Interest Up 38.4% in March|
www.americanbankingnews.com - April 4 at 1:25 PM
|Kathleen A. Corbet Named Independent Director Of TCP Capital Corp. - PR Newswire (press release)|
www.prnewswire.com - March 11 at 6:19 AM
|Kathleen A. Corbet Named Independent Director Of TCP Capital Corp.|
finance.yahoo.com - March 9 at 8:07 PM
|TCP CAPITAL CORP. Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits|
biz.yahoo.com - March 9 at 8:07 PM
|TCP Capital Corp. Announces 2016 Financial Results; Board Declares First Quarter Dividend Of $0.36 Per Share - PR Newswire (press release)|
www.prnewswire.com - March 2 at 8:15 PM
|TCP Capital's (TCPC) CEO Howard Levkowitz on Q4 2016 Results - Earnings Call Transcript|
seekingalpha.com - March 1 at 9:35 AM
TCP Capital Corp (TCPC) Chart for Saturday, May, 27, 2017