Blackrock Tcp Capital Corp. $TCPC Shares Acquired by Next Capital Management LLC

Key Points

• Next Capital Management LLC increased its stake in BlackRock TCP Capital by 13.6% in the first quarter, buying 366,008 additional shares and bringing its total to 3,049,547 shares.
• Analysts remain broadly bearish on TCPC, with a consensus rating of Strong Sell and an average price target of $3.50.
• BlackRock TCP Capital recently reported quarterly EPS of $0.21, beating estimates, and also paid a $0.17 per share quarterly dividend, implying an annualized yield of 20.5%.

Next Capital Management LLC boosted its holdings in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,049,547 shares of the investment management company's stock after purchasing an additional 366,008 shares during the quarter. Blackrock Tcp Capital comprises approximately 3.3% of Next Capital Management LLC's holdings, making the stock its 6th largest position. Next Capital Management LLC owned about 3.62% of Blackrock Tcp Capital worth $11,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GatePass Capital LLC acquired a new position in shares of Blackrock Tcp Capital during the first quarter worth approximately $1,001,000. UBS Group AG boosted its position in shares of Blackrock Tcp Capital by 8.9% in the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company's stock valued at $8,596,000 after acquiring an additional 128,687 shares during the period. Compound Planning Inc. grew its stake in shares of Blackrock Tcp Capital by 112.9% in the fourth quarter. Compound Planning Inc. now owns 27,992 shares of the investment management company's stock worth $153,000 after acquiring an additional 14,841 shares during the last quarter. Permanens Capital L.P. acquired a new stake in shares of Blackrock Tcp Capital in the third quarter worth $133,000. Finally, Boothbay Fund Management LLC bought a new position in Blackrock Tcp Capital during the fourth quarter worth $75,000.

Wall Street Analyst Weigh In

Several research firms recently commented on TCPC. Weiss Ratings reiterated a "sell (d)" rating on shares of Blackrock Tcp Capital in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $3.50.

Blackrock Tcp Capital Trading Down 0.9%

Blackrock Tcp Capital stock opened at $3.31 on Friday. The business has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $4.20. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.64. Blackrock Tcp Capital Corp. has a 12 month low of $3.08 and a 12 month high of $7.88. The stock has a market cap of $277.71 million, a price-to-earnings ratio of -2.22 and a beta of 0.95.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $42.58 million for the quarter, compared to analyst estimates of $40.10 million. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%. As a group, equities analysts forecast that Blackrock Tcp Capital Corp. will post 0.83 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.68 dividend on an annualized basis and a yield of 20.5%. Blackrock Tcp Capital's payout ratio is currently -45.64%.

Blackrock Tcp Capital Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.

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