BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,051 shares of the investment management company's stock after selling 59,612 shares during the period. Kovitz Investment Group Partners LLC owned about 0.33% of BlackRock TCP Capital worth $2,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TCPC. Avior Wealth Management LLC purchased a new position in BlackRock TCP Capital in the 4th quarter worth about $38,000. McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital during the third quarter worth approximately $46,000. Tower Research Capital LLC TRC raised its stake in shares of BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after acquiring an additional 3,508 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $70,000. Finally, VSM Wealth Advisory LLC bought a new position in BlackRock TCP Capital in the fourth quarter worth approximately $84,000.

Analyst Ratings Changes

TCPC has been the subject of several research reports. Wells Fargo & Company lowered 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. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

Insider Buying and Selling

In other BlackRock TCP Capital news, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Wolfe purchased 6,100 shares of the stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $8.12 per share, with a total value of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares of the company's stock, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock worth $146,444 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

BlackRock TCP Capital Stock Performance

TCPC stock remained flat at $6.75 during trading on Friday. The company had a trading volume of 1,243,302 shares, compared to its average volume of 575,106. The company has a market capitalization of $574.27 million, a P/E ratio of -13.50 and a beta of 1.21. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The company's 50 day moving average price is $7.48 and its 200 day moving average price is $8.40. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.81%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital's payout ratio is currently -133.33%.

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.