Vaughan Nelson Investment Management L.P. Has $33.49 Million Position in BlackRock TCP Capital Corp (TCPC)

Vaughan Nelson Investment Management L.P. cut its holdings in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 19.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,353,178 shares of the investment management company’s stock after selling 581,325 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in BlackRock TCP Capital were worth $33,486,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TCPC. 6 Meridian bought a new position in BlackRock TCP Capital in the 2nd quarter valued at approximately $5,305,000. Cliffwater LLC lifted its position in BlackRock TCP Capital by 75.0% in the 3rd quarter. Cliffwater LLC now owns 504,651 shares of the investment management company’s stock valued at $7,181,000 after acquiring an additional 216,256 shares in the last quarter. Bank of Montreal Can bought a new position in BlackRock TCP Capital in the 2nd quarter valued at approximately $1,418,000. Acadian Asset Management LLC bought a new position in BlackRock TCP Capital in the 3rd quarter valued at approximately $1,019,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in BlackRock TCP Capital by 49.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 210,743 shares of the investment management company’s stock valued at $3,045,000 after acquiring an additional 69,600 shares in the last quarter. 45.71% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Paul L. Davis bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were bought at an average cost of $13.89 per share, with a total value of $55,560.00. Following the acquisition, the chief financial officer now owns 11,000 shares in the company, valued at $152,790. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard Levkowitz bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average cost of $13.89 per share, for a total transaction of $69,450.00. Following the completion of the acquisition, the chief executive officer now owns 119,144 shares in the company, valued at approximately $1,654,910.16. The disclosure for this purchase can be found here. Insiders have bought a total of 16,725 shares of company stock worth $232,484 over the last three months. Insiders own 0.55% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday. BidaskClub raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday. National Securities reissued a “buy” rating and set a $19.00 price target on shares of BlackRock TCP Capital in a report on Monday, November 12th. Wells Fargo & Co lowered their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. Finally, JMP Securities lowered their price target on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a report on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. BlackRock TCP Capital has a consensus rating of “Buy” and an average target price of $16.90.

NASDAQ TCPC opened at $14.27 on Monday. The firm has a market cap of $838.93 million, a PE ratio of 7.17, a PEG ratio of 1.79 and a beta of 0.70. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.90. BlackRock TCP Capital Corp has a 1-year low of $13.71 and a 1-year high of $16.25.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $49.48 million for the quarter, compared to analysts’ expectations of $48.06 million. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. As a group, analysts forecast that BlackRock TCP Capital Corp will post 1.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 10.09%. BlackRock TCP Capital’s payout ratio is 72.36%.

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BlackRock TCP Capital 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.

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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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