Raymond James Financial Inc. Takes $886,000 Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Raymond James Financial Inc. bought a new stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 101,682 shares of the investment management company's stock, valued at approximately $886,000. Raymond James Financial Inc. owned approximately 0.12% of BlackRock TCP Capital as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its stake in shares of BlackRock TCP Capital by 43.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 17,350 shares of the investment management company's stock worth $151,000 after purchasing an additional 5,250 shares in the last quarter. Verus Capital Partners LLC boosted its position in shares of BlackRock TCP Capital by 14.6% during the 4th quarter. Verus Capital Partners LLC now owns 54,214 shares of the investment management company's stock worth $472,000 after acquiring an additional 6,910 shares in the last quarter. Muzinich & Co. Inc. boosted its position in shares of BlackRock TCP Capital by 11.8% during the 4th quarter. Muzinich & Co. Inc. now owns 241,464 shares of the investment management company's stock worth $2,103,000 after acquiring an additional 25,560 shares in the last quarter. GraniteShares Advisors LLC purchased a new position in shares of BlackRock TCP Capital in the 4th quarter valued at about $2,453,000. Finally, Transcend Capital Advisors LLC raised its position in shares of BlackRock TCP Capital by 17.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after acquiring an additional 209,898 shares in the last quarter.

Wall Street Analyst Weigh In

TCPC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research note on Tuesday. StockNews.com lowered shares of BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company reduced their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.33.

BlackRock TCP Capital Stock Performance

Shares of TCPC traded up $0.56 during mid-day trading on Wednesday, reaching $7.03. 1,157,454 shares of the company's stock were exchanged, compared to its average volume of 565,014. The business's fifty day simple moving average is $8.32 and its 200-day simple moving average is $8.56. BlackRock TCP Capital Corp. has a 52-week low of $6.28 and a 52-week high of $11.52. The stock has a market capitalization of $598.09 million, a PE ratio of -14.06 and a beta of 1.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 14.22%. BlackRock TCP Capital's dividend payout ratio is presently -133.33%.

Insider Activity

In related news, COO Patrick Wolfe acquired 6,100 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction on Friday, March 21st. The stock was bought at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the purchase, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. The trade was a 34.98 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 18,500 shares of company stock valued at $146,444. Insiders own 0.16% of the company's stock.

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.