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TCP Capital Named Top Dividend Stock With Insider Buying and 8.71% Yield (TCPC)
Tuesday, July 25, 2:11 PM ET, by Market News Video Staff

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TCP Capital Named Top Dividend Stock With Insider Buying and 8.81% Yield (TCPC)
Tuesday, October 24, 4:01 PM ET, by Market News Video Staff

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New 52-Week Low Could Prompt More Insider Buying At TCPC

By Market News Video Staff, Monday, February 5, 1:13 PM ET
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In trading on Monday, shares of TCP Capital Corp. (NASDAQ:TCPC) touched a new 52-week low of $14.61/share. That's a $2.86 share price drop, or -16.37% decline from the 52-week high of $17.47 set back on 04/03/2017. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for TCPC that means the stock would have to gain 19.58% to get back to the 52-week high. For a move like that, TCP Capital Corp. would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as TCPC shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, TCPC has seen 4 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
01/30/2018 Howard Levkowitz CEO 9,000 $15.27 $137,464.00
01/30/2018 Kathleen A. Corbet Director 2,500 $15.22 $38,041.50
01/31/2018 Brian F. Wruble Director 5,000 $15.26 $76,300.00
02/02/2018 Rajneesh Vig COO 5,000 $15.06 $75,321.50

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where TCPC has traded over the past year, with the 50-day and 200-day moving averages included.

TCP Capital Corp. Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for TCPC shares, which are presently showing a last trade of $14.75/share, slightly above the new 52-week low.

This Article's Word Cloud:   Bargains   Brian   Capital   Cheaper   Corbet   Corp   Director   Here   Howard   Insider   Insiders   Kathleen   Large   Levkowitz   Monday   Oftentimes   Price   Purchased   Rajneesh   Share   Shares   Start   TCPC   Than   That   Time   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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