Blackrock Tcp Capital Corp. $TCPC Stake Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 26.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,604 shares of the investment management company's stock after acquiring an additional 442,735 shares during the period. Van ECK Associates Corp owned 2.50% of Blackrock Tcp Capital worth $7,045,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Blackrock Tcp Capital by 230.1% in the 2nd quarter. Bank of America Corp DE now owns 398,785 shares of the investment management company's stock worth $1,340,000 after purchasing an additional 277,993 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Blackrock Tcp Capital during the second quarter worth about $2,245,000. Van Hulzen Asset Management LLC bought a new position in shares of Blackrock Tcp Capital during the second quarter worth about $160,000. BlackRock Inc. acquired a new position in Blackrock Tcp Capital in the second quarter worth about $1,540,000. Finally, IMC Chicago LLC acquired a new position in Blackrock Tcp Capital in the second quarter worth about $45,000.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a "sell (d)" rating on shares of Blackrock Tcp Capital in a research note on Friday. Wall Street Zen upgraded Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $3.50 to $4.00 in a report on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $3.75.

Blackrock Tcp Capital Trading Down 1.9%

Blackrock Tcp Capital stock opened at $4.08 on Wednesday. Blackrock Tcp Capital Corp. has a 1 year low of $3.08 and a 1 year high of $7.28. The firm's 50-day moving average is $3.57 and its 200-day moving average is $3.82. The company has a debt-to-equity ratio of 1.65, a quick ratio of 33.70 and a current ratio of 33.70. The company has a market cap of $342.31 million, a P/E ratio of -3.19 and a beta of 0.98.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. The firm had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. On average, equities analysts expect that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date is Wednesday, September 16th. Blackrock Tcp Capital's dividend payout ratio is presently -53.12%.

About Blackrock Tcp Capital

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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