TCP Capital Corp. (TCPC) Stake Cut by Allen Investment Management LLC

Allen Investment Management LLC reduced its position in TCP Capital Corp. (NASDAQ:TCPC) by 34.7% during the third quarter, Holdings Channel reports. The firm owned 44,518 shares of the investment management company’s stock after selling 23,667 shares during the period. Allen Investment Management LLC’s holdings in TCP Capital Corp. were worth $729,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of TCP Capital Corp. by 8.1% in the third quarter. Wells Fargo & Company MN now owns 4,082,702 shares of the investment management company’s stock valued at $66,874,000 after buying an additional 307,379 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of TCP Capital Corp. by 2.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,859,425 shares of the investment management company’s stock valued at $46,837,000 after buying an additional 78,600 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in shares of TCP Capital Corp. by 60.8% in the third quarter. Muzinich & Co. Inc. now owns 942,275 shares of the investment management company’s stock valued at $15,434,000 after buying an additional 356,353 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of TCP Capital Corp. by 9.2% in the third quarter. Confluence Investment Management LLC now owns 745,512 shares of the investment management company’s stock valued at $12,211,000 after buying an additional 62,558 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of TCP Capital Corp. during the third quarter valued at approximately $9,828,000. Institutional investors own 54.07% of the company’s stock.

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

Shares of TCP Capital Corp. (NASDAQ:TCPC) opened at 16.89 on Friday. TCP Capital Corp. has a one year low of $12.83 and a one year high of $17.25. The company has a 50-day moving average of $16.83 and a 200 day moving average of $16.47.

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Several brokerages have commented on TCPC. FBR & Co lifted their price objective on shares of TCP Capital Corp. to $18.00 in a research note on Friday, January 20th. National Securities cut shares of TCP Capital Corp. from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday, November 28th. Zacks Investment Research cut shares of TCP Capital Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Finally, JMP Securities reiterated a “buy” rating on shares of TCP Capital Corp. in a research note on Friday, November 11th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.55.

TCP Capital Corp. Company Profile

TCP Capital Corp. is a 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. The Company invests in debt securities of middle-market companies.

5 Day Chart for NASDAQ:TCPC

Want to see what other hedge funds are holding TCPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TCP Capital Corp. (NASDAQ:TCPC).

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