Ares Management LLC Sells 76,736 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Ares Management LLC lowered its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 45.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,053 shares of the investment management company's stock after selling 76,736 shares during the period. Ares Management LLC owned about 0.11% of BlackRock TCP Capital worth $810,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC grew its position in BlackRock TCP Capital by 291.5% during the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock valued at $1,243,000 after acquiring an additional 106,257 shares during the last quarter. Talon Private Wealth LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter valued at about $276,000. Aquatic Capital Management LLC grew its position in BlackRock TCP Capital by 146.4% during the 4th quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company's stock worth $296,000 after acquiring an additional 20,200 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in BlackRock TCP Capital by 19.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 132,795 shares of the investment management company's stock valued at $1,157,000 after purchasing an additional 21,301 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in BlackRock TCP Capital in the 4th quarter worth $141,000.

BlackRock TCP Capital Stock Down 2.1 %

TCPC traded down $0.14 on Monday, hitting $6.61. The company had a trading volume of 780,318 shares, compared to its average volume of 575,929. BlackRock TCP Capital Corp. has a 52-week low of $6.27 and a 52-week high of $11.52. The stock has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $8.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm has a market capitalization of $562.36 million, a P/E ratio of -13.22 and a beta of 1.21.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 15.13%. BlackRock TCP Capital's dividend payout ratio is presently -133.33%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Keefe, Bruyette & Woods cut their price objective on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a report on Monday, April 28th.

Insider Buying and Selling

In related news, CEO Philip M. Tseng purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 18,500 shares of company stock valued at $146,444 over the last ninety days. Company insiders own 0.21% 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.