BlackRock TCP Capital Corp (TCPC) Holdings Reduced by BlackRock Inc.

BlackRock Inc. lessened its position in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 1.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 319,642 shares of the investment management company’s stock after selling 4,316 shares during the period. BlackRock Inc.’s holdings in BlackRock TCP Capital were worth $4,619,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TCPC. Financial Counselors Inc. bought a new stake in BlackRock TCP Capital in the second quarter valued at approximately $201,000. TCW Group Inc. increased its stake in BlackRock TCP Capital by 16.7% in the second quarter. TCW Group Inc. now owns 35,000 shares of the investment management company’s stock valued at $506,000 after purchasing an additional 5,000 shares in the last quarter. Allen Investment Management LLC increased its stake in BlackRock TCP Capital by 114.7% in the second quarter. Allen Investment Management LLC now owns 52,420 shares of the investment management company’s stock valued at $757,000 after purchasing an additional 28,004 shares in the last quarter. Bank of Montreal Can bought a new stake in BlackRock TCP Capital in the second quarter valued at approximately $1,418,000. Finally, GSA Capital Partners LLP increased its stake in BlackRock TCP Capital by 70.2% in the second quarter. GSA Capital Partners LLP now owns 153,386 shares of the investment management company’s stock valued at $2,216,000 after purchasing an additional 63,286 shares in the last quarter. 48.26% of the stock is owned by hedge funds and other institutional investors.

Shares of TCPC stock opened at $14.15 on Friday. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.93. BlackRock TCP Capital Corp has a 12-month low of $13.71 and a 12-month high of $16.25. The firm has a market cap of $827.41 million, a PE ratio of 7.11, a P/E/G ratio of 1.79 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, November 8th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. BlackRock TCP Capital had a net margin of 32.55% and a return on equity of 11.22%. The company had revenue of $49.48 million during the quarter, compared to the consensus estimate of $48.06 million. On average, research analysts anticipate that BlackRock TCP Capital Corp will post 1.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.18%. The ex-dividend date is Friday, December 14th. BlackRock TCP Capital’s dividend payout ratio is 72.36%.

TCPC has been the subject of several recent analyst reports. BidaskClub raised shares of BlackRock TCP Capital from a “hold” rating to a “buy” rating in a research note on Saturday, July 21st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $17.00 target price on shares of BlackRock TCP Capital in a research note on Wednesday, August 8th. National Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of BlackRock TCP Capital in a research note on Monday, August 13th. JMP Securities lowered their target price on shares of BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 28th. Finally, Wells Fargo & Co lowered their target price on shares of BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.92.

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BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

Further Reading: Google Finance Portfolio Workaround

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

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

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