Global Wealth Management Investment Advisory Inc. Has $566,000 Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Global Wealth Management Investment Advisory Inc. raised its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 7.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 49,037 shares of the investment management company’s stock after purchasing an additional 3,331 shares during the period. Global Wealth Management Investment Advisory Inc. owned approximately 0.08% of BlackRock TCP Capital worth $566,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TCPC. Cambridge Investment Research Advisors Inc. boosted its stake in BlackRock TCP Capital by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,996 shares of the investment management company’s stock valued at $376,000 after purchasing an additional 1,118 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of BlackRock TCP Capital by 2.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 161,286 shares of the investment management company’s stock worth $1,894,000 after buying an additional 4,518 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of BlackRock TCP Capital by 4.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 312,472 shares of the investment management company’s stock worth $3,668,000 after buying an additional 14,066 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of BlackRock TCP Capital in the 3rd quarter worth approximately $121,000. Finally, Quantbot Technologies LP boosted its stake in shares of BlackRock TCP Capital by 310.1% in the 3rd quarter. Quantbot Technologies LP now owns 16,197 shares of the investment management company’s stock worth $190,000 after buying an additional 12,247 shares during the last quarter.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $10.42 on Thursday. BlackRock TCP Capital Corp. has a 12 month low of $9.61 and a 12 month high of $13.00. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 1.43. The business’s 50 day simple moving average is $10.35 and its 200 day simple moving average is $11.06. The company has a market cap of $601.96 million, a price-to-earnings ratio of 15.79 and a beta of 1.42.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. The business had revenue of $50.85 million for the quarter, compared to the consensus estimate of $53.36 million. Sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.73 EPS for the current year.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 dividend on an annualized basis and a yield of 13.05%. BlackRock TCP Capital’s payout ratio is 206.06%.

Wall Street Analyst Weigh In

TCPC has been the topic of a number of research analyst reports. Oppenheimer restated a “market perform” rating and issued a $11.00 target price (down previously from $13.00) on shares of BlackRock TCP Capital in a research note on Wednesday, March 6th. Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company boosted their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JMP Securities reiterated a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Finally, Raymond James downgraded BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, BlackRock TCP Capital has an average rating of “Hold” and a consensus target price of $11.25.

BlackRock TCP Capital Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.