Blackrock Tcp Capital Corp. $TCPC Holdings Boosted by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its holdings in Blackrock Tcp Capital Corp. by 16.8%, acquiring a total of 394,116 shares worth $3,157,000.
• Blackrock Tcp Capital's stock is currently rated as "Reduce" by analysts, with an average target price of $6.75 following recent downgrades.
• The company reported a quarterly EPS of $0.32, missing analysts' estimates, and declared a $0.25 per share dividend, reflecting a yield of 14.0%.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 16.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,116 shares of the investment management company's stock after acquiring an additional 56,639 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.46% of Blackrock Tcp Capital worth $3,157,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. VSM Wealth Advisory LLC boosted its stake in shares of Blackrock Tcp Capital by 15.9% in the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company's stock valued at $90,000 after purchasing an additional 1,537 shares during the period. Mallini Complete Financial Planning LLC boosted its stake in shares of Blackrock Tcp Capital by 9.6% in the first quarter. Mallini Complete Financial Planning LLC now owns 22,505 shares of the investment management company's stock valued at $180,000 after purchasing an additional 1,971 shares during the period. PNC Financial Services Group Inc. grew its holdings in Blackrock Tcp Capital by 27.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock worth $82,000 after acquiring an additional 2,200 shares in the last quarter. Mariner LLC grew its holdings in Blackrock Tcp Capital by 9.4% during the 4th quarter. Mariner LLC now owns 27,293 shares of the investment management company's stock worth $238,000 after acquiring an additional 2,346 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Blackrock Tcp Capital by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company's stock worth $773,000 after acquiring an additional 2,687 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TCPC shares. Wells Fargo & Company restated an "underweight" rating and issued a $6.00 price target (down from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $6.75.

Blackrock Tcp Capital Price Performance

Shares of TCPC stock traded down $0.01 during midday trading on Tuesday, reaching $7.06. 83,065 shares of the company were exchanged, compared to its average volume of 578,898. Blackrock Tcp Capital Corp. has a 12 month low of $6.27 and a 12 month high of $9.72. The company has a market cap of $599.96 million, a P/E ratio of -41.50 and a beta of 1.01. The company's 50 day moving average price is $7.44 and its two-hundred day moving average price is $7.65. The company has a debt-to-equity ratio of 1.59, a quick ratio of 14.07 and a current ratio of 14.06.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The company had revenue of $51.47 million for the quarter, compared to the consensus estimate of $56.16 million. On average, sell-side 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 Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 14.2%. Blackrock Tcp Capital's payout ratio is currently -588.24%.

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.