BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.15% of BlackRock TCP Capital worth $1,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TCPC. Tower Research Capital LLC TRC grew its holdings in 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 worth $48,000 after acquiring an additional 3,508 shares during the period. Transce3nd LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth $70,000. VSM Wealth Advisory LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter worth $84,000. Entropy Technologies LP acquired a new position in shares of BlackRock TCP Capital during the 4th quarter valued at about $115,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $141,000.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC remained flat at $7.82 on Friday. 285,606 shares of the company were exchanged, compared to its average volume of 585,541. 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 stock's fifty day moving average price is $7.22 and its two-hundred day moving average price is $8.25. The firm has a market cap of $665.00 million, a price-to-earnings ratio of -15.64 and a beta of 1.03. BlackRock TCP Capital Corp. has a 12-month low of $6.27 and a 12-month high of $11.51.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The firm had revenue of $55.89 million for the quarter, compared to analyst estimates of $57.95 million. On average, research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.79%. BlackRock TCP Capital's dividend payout ratio is presently -172.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TCPC. 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. Wall Street Zen lowered shares of BlackRock TCP Capital from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company reduced their target price on 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.

Insider Buying and Selling

In related news, COO Patrick Wolfe acquired 6,100 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at $64,984.36. This represents a 320.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Philip M. Tseng acquired 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. The trade was a 34.98% increase in their ownership of the stock. 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 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.