Muzinich & Co. Inc. decreased its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,204 shares of the investment management company’s stock after selling 76,415 shares during the quarter. BlackRock TCP Capital accounts for approximately 1.7% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 18th largest holding. Muzinich & Co. Inc. owned 0.39% of BlackRock TCP Capital worth $3,082,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Covington Capital Management lifted its holdings in shares of BlackRock TCP Capital by 43.8% during the second quarter. Covington Capital Management now owns 72,910 shares of the investment management company’s stock worth $1,008,000 after purchasing an additional 22,200 shares during the period. Global Wealth Management Investment Advisory Inc. raised its position in BlackRock TCP Capital by 54.3% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 13,496 shares of the investment management company’s stock valued at $187,000 after acquiring an additional 4,751 shares in the last quarter. Great West Life Assurance Co. Can raised its position in BlackRock TCP Capital by 6.6% during the second quarter. Great West Life Assurance Co. Can now owns 18,750 shares of the investment management company’s stock valued at $259,000 after acquiring an additional 1,165 shares in the last quarter. Mackenzie Financial Corp raised its position in BlackRock TCP Capital by 116.1% during the second quarter. Mackenzie Financial Corp now owns 70,715 shares of the investment management company’s stock valued at $977,000 after acquiring an additional 37,994 shares in the last quarter. Finally, Allen Investment Management LLC raised its position in BlackRock TCP Capital by 2.3% during the second quarter. Allen Investment Management LLC now owns 35,049 shares of the investment management company’s stock valued at $484,000 after acquiring an additional 801 shares in the last quarter. 27.48% of the stock is owned by hedge funds and other institutional investors.
Shares of TCPC traded down $0.01 during trading hours on Thursday, hitting $14.23. 279 shares of the stock were exchanged, compared to its average volume of 260,792. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.05 and a current ratio of 1.05. BlackRock TCP Capital Corp. has a 12-month low of $9.10 and a 12-month high of $15.07. The company has a market cap of $822.02 million, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The stock’s 50-day moving average price is $14.04 and its two-hundred day moving average price is $14.23.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.43%. The ex-dividend date was Wednesday, September 15th. BlackRock TCP Capital’s payout ratio is 83.92%.
Several research analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $14.00 to $14.50 and gave the company an “equal weight” rating in a research report on Tuesday, August 3rd. Zacks Investment Research upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday, October 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $14.20.
BlackRock TCP Capital Profile
TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.
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