Today’s Market Runner: Could TCP Capital Corp See a Reversal After Breaking Its 52-Week High?

Today's Market Runner: Could TCP Capital Corp See a Reversal After Breaking Its 52 Week High?

The stock of TCP Capital Corp (NASDAQ:TCPC) hit a new 52-week high and has $24.91 target or 49.00% above today’s $16.72 share price. The 6 months bullish chart indicates low risk for the $895.44 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $24.91 price target is reached, the company will be worth $438.77 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 71,449 shares traded hands. TCP Capital Corp (NASDAQ:TCPC) has risen 13.07% since April 19, 2016 and is uptrending. It has outperformed by 9.21% the S&P500.

TCP Capital Corp (NASDAQ:TCPC) Ratings Coverage

Out of 4 analysts covering TCP Capital (NASDAQ:TCPC), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. TCP Capital has been the topic of 8 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Oppenheimer maintained TCP Capital Corp (NASDAQ:TCPC) on Friday, August 7 with “Outperform” rating. The rating was maintained by JMP Securities on Wednesday, August 10 with “Market Outperform”. As per Wednesday, August 17, the company rating was maintained by Citigroup. Deutsche Bank maintained it with “Hold” rating and $15 target price in Tuesday, March 15 report. The firm earned “Hold” rating on Wednesday, August 10 by Deutsche Bank. The firm earned “Hold” rating on Saturday, August 22 by Deutsche Bank.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.22 in Q2 2016. Its down 0.34, from 1.56 in 2016Q1. The ratio is negative, as 10 funds sold all TCP Capital Corp shares owned while 24 reduced positions. 21 funds bought stakes while 32 increased positions. They now own 21.38 million shares or 12.05% more from 19.08 million shares in 2016Q1.
Mckinley Cap Lc Delaware holds 0.14% of its portfolio in TCP Capital Corp (NASDAQ:TCPC) for 186,257 shares. Clearbridge Invs Ltd Liability Corp holds 0.04% or 2.13M shares in its portfolio. Jpmorgan Chase And Company holds 16,429 shares or 0% of its portfolio. The Pennsylvania-based Susquehanna Intll Grp Incorporated Ltd Liability Partnership has invested 0% in TCP Capital Corp (NASDAQ:TCPC). The North Carolina-based Carroll Assocs has invested 0% in TCP Capital Corp (NASDAQ:TCPC). Pnc Service owns 2,000 shares or 0% of their US portfolio. Cambridge Inv Research Inc holds 12,872 shares or 0% of its portfolio. Pioneer Invest Mngmt Inc holds 133,168 shares or 0.01% of its portfolio. Vsr Financial accumulated 29,955 shares or 0.08% of the stock. Tcw Grp Incorporated has invested 0.01% of its portfolio in TCP Capital Corp (NASDAQ:TCPC). Babson Cap Mngmt Ltd Liability has invested 0.63% of its portfolio in TCP Capital Corp (NASDAQ:TCPC). Manufacturers Life Insur Com The holds 0% of its portfolio in TCP Capital Corp (NASDAQ:TCPC) for 1,576 shares. Monarch Partners Asset Mngmt Limited Liability holds 11,690 shares or 0.02% of its portfolio. D E Shaw And last reported 0% of its portfolio in the stock. Oppenheimer And holds 0.01% of its portfolio in TCP Capital Corp (NASDAQ:TCPC) for 20,571 shares.

More notable recent TCP Capital Corp (NASDAQ:TCPC) news were published by: Prnewswire.com which released: “TCP Capital Corp. Announces Third Quarter 2016 Financial Results; Net …” on November 08, 2016, also Prnewswire.com with their article: “TCP Capital Corp. Prices $125 Million Of 4.625% Convertible Senior Notes Due 2022” published on August 31, 2016, Prnewswire.com published: “TCP Capital Corp. Announces Sale Of Common Shares To Certain Investors In A …” on July 07, 2016. More interesting news about TCP Capital Corp (NASDAQ:TCPC) were released by: Prnewswire.com and their article: “M. Freddie Reiss Named Independent Director At TCP Capital Corp.” published on August 24, 2016 as well as Prnewswire.com‘s news article titled: “TCP Capital Corp. Schedules Earnings Release and Conference Call for the Third …” with publication date: October 11, 2016.

TCPC Company Profile

TCP Capital Corp., incorporated on July 17, 2006, 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 Firm invests in debt securities of middle-market companies. The Firm holds interests in Special Value Continuation Partners, LP. The Firm receives contractual interest payments on debt investments and originations, and equity appreciation through options, warrants, conversion rights or direct equity investments. The Firm has various types of investment assets, such as equity, senior secured debt, and mezzanine/junior.

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