In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tcp Capital Corp. (NASDAQ:TCPC) reported that Vaughan Nelson Investment Management, L.p. has picked up 3,173,529 of common stock as of 2017-02-14.
The acquisition brings the aggregate amount owned by Vaughan Nelson Investment Management, L.p. to a total of 3,173,529 representing a 6.0% stake in the company.
For those not familiar with the company, 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. The Company holds interests in Special Value Continuation Partners, LP. The Company receives contractual interest payments on debt investments and originations, and equity appreciation through options, warrants, conversion rights or direct equity investments. The Company has various types of investment assets, such as equity, senior secured debt, and mezzanine/junior. Its portfolio includes its investments in various industries, such as software publishing; computer systems design and related services; business support services; insurance carriers; radio and television broadcasting; air transportation, and hospitals. Its investment advisor is Tennenbaum Capital Partners, LLC.
A glance at Tcp Capital Corp. (NASDAQ:TCPC)’s key stats reveals a current market capitalization of 897.47 million based on 53.04 million shares outstanding and a price at last close of $16.92 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-27, Davis picked up 500 at a purchase price of $14.48. This brings their total holding to 9,000 as of the date of the filing.
On the sell side, the most recent transaction saw Flynn unload 2,000 shares at a sale price of $16.74. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tcp Capital Corp. (NASDAQ:TCPC) as things move forward to see if its progress aligns with these transactions.
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