Schonfeld Strategic Advisors LLC decreased its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,100 shares of the investment management company's stock after selling 49,300 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in BlackRock TCP Capital were worth $323,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ignite Planners LLC grew its holdings in BlackRock TCP Capital by 14.7% during the 4th quarter. Ignite Planners LLC now owns 75,121 shares of the investment management company's stock worth $664,000 after acquiring an additional 9,655 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of BlackRock TCP Capital by 18.8% during the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company's stock worth $130,000 after purchasing an additional 2,350 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of BlackRock TCP Capital by 33.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company's stock worth $139,000 after purchasing an additional 4,000 shares during the period. Avior Wealth Management LLC bought a new stake in shares of BlackRock TCP Capital in the fourth quarter worth $38,000. Finally, Columbus Macro LLC acquired a new stake in BlackRock TCP Capital in the fourth quarter valued at $4,177,000.
BlackRock TCP Capital Trading Up 0.4%
Shares of TCPC stock traded up $0.03 during trading hours on Friday, hitting $7.75. 372,125 shares of the company were exchanged, compared to its average volume of 587,413. The company has a 50 day simple moving average of $7.27 and a two-hundred day simple moving average of $8.33. The firm has a market cap of $659.04 million, a P/E ratio of -15.50 and a beta of 1.03. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $11.52.
BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $55.89 million for the quarter, compared to analyst estimates of $57.95 million. Equities analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.
BlackRock TCP Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 12.90%. BlackRock TCP Capital's dividend payout ratio is presently -172.41%.
Insider Activity at BlackRock TCP Capital
In other news, CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at $298,663.38. This trade represents a 34.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of BlackRock TCP Capital stock in a transaction that occurred 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 transaction, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55% increase in their position. The disclosure for this purchase can be found here. Insiders bought 18,500 shares of company stock valued at $146,444 in the last three months. Corporate insiders own 0.21% of the company's stock.
Wall Street Analysts Forecast Growth
TCPC has been the topic of several recent research reports. StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Keefe, Bruyette & Woods lowered their price objective on 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. Finally, Wells Fargo & Company dropped their price objective on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a research note on Monday, April 28th.
Read Our Latest Analysis on TCPC
BlackRock TCP Capital Company Profile
(
Free Report)
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.
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