Envestnet Asset Management Inc. Has $4.87 Million Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Envestnet Asset Management Inc. raised its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 623.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 558,815 shares of the investment management company's stock after buying an additional 481,581 shares during the quarter. Envestnet Asset Management Inc. owned 0.65% of BlackRock TCP Capital worth $4,867,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of BlackRock TCP Capital by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock worth $19,186,000 after purchasing an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of BlackRock TCP Capital by 17.2% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after purchasing an additional 209,898 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter worth approximately $5,268,000. Barings LLC lifted its position in shares of BlackRock TCP Capital by 5.0% in the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company's stock worth $4,184,000 after purchasing an additional 22,675 shares in the last quarter. Finally, Columbus Macro LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter worth approximately $4,177,000.

Insiders Place Their Bets

In related news, CEO Philip M. Tseng acquired 10,000 shares of the business's stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the transaction, the chief executive officer now owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Patrick Wolfe acquired 6,100 shares of the business's stock in a transaction dated Friday, March 14th. The shares were 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 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 bought a total of 18,500 shares of company stock valued at $146,444 in the last quarter. Insiders own 0.16% of the company's stock.

BlackRock TCP Capital Stock Performance

BlackRock TCP Capital stock traded up $0.08 on Monday, reaching $7.10. 284,534 shares of the stock were exchanged, compared to its average volume of 571,635. The stock has a market cap of $604.05 million, a PE ratio of -14.20 and a beta of 1.21. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a twelve month low of $6.27 and a twelve month high of $11.52. The firm has a fifty day moving average price of $7.69 and a two-hundred day moving average price of $8.44.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.08%. The ex-dividend date was Monday, March 17th. BlackRock TCP Capital's dividend payout ratio is -133.33%.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced 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. 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, Wells Fargo & Company cut their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.00.

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.