Bank of America Corp DE Lowers Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Bank of America Corp DE lowered its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,405 shares of the investment management company's stock after selling 105,494 shares during the period. Bank of America Corp DE owned about 0.15% of BlackRock TCP Capital worth $1,084,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. TrueMark Investments LLC acquired a new position in BlackRock TCP Capital in the 4th quarter worth about $5,268,000. Envestnet Asset Management Inc. increased its position in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after buying an additional 481,581 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $2,939,000. GraniteShares Advisors LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $2,453,000. Finally, Transcend Capital Advisors LLC lifted 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 valued at $12,477,000 after buying an additional 209,898 shares in the last quarter.

Insider Buying and Selling at BlackRock TCP Capital

In related news, 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 completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of the company's stock in a transaction on Friday, March 21st. The stock was bought at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the chief executive officer now owns 38,587 shares in the company, valued at $298,663.38. This represents a 34.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 18,500 shares of company stock worth $146,444. Insiders own 0.21% of the company's stock.

BlackRock TCP Capital Price Performance

Shares of TCPC traded down $0.09 during trading hours on Tuesday, hitting $7.86. 462,450 shares of the stock were exchanged, compared to its average volume of 586,404. The stock's 50-day moving average price is $7.22 and its two-hundred day moving average price is $8.23. BlackRock TCP Capital Corp. has a 12-month low of $6.27 and a 12-month high of $11.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The company has a market cap of $668.40 million, a price-to-earnings ratio of -15.72 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last released its earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $55.89 million during the quarter, compared to analyst estimates of $57.95 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. Research analysts expect that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 12.72%. BlackRock TCP Capital's dividend payout ratio is presently -172.41%.

Analyst Ratings Changes

A number of research firms have weighed in on TCPC. Wall Street Zen cut shares of BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company cut their target price on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased 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, April 8th.

BlackRock TCP Capital Company 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.