BI Asset Management Fondsmaeglerselskab A S Purchases 56,639 Shares of Blackrock Tcp Capital Corp. $TCPC

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% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 394,116 shares of the investment management company's stock after buying 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ethos Financial Group LLC purchased a new position in shares of Blackrock Tcp Capital in the 1st quarter worth approximately $521,000. Wealthedge Investment Advisors LLC bought a new stake in shares of Blackrock Tcp Capital in the 1st quarter worth approximately $1,066,000. Privium Fund Management UK Ltd purchased a new position in Blackrock Tcp Capital in the first quarter valued at approximately $1,180,000. PNC Financial Services Group Inc. lifted its stake in Blackrock Tcp Capital by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock valued at $82,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Barings LLC lifted its stake in Blackrock Tcp Capital by 3.6% in the first quarter. Barings LLC now owns 497,580 shares of the investment management company's stock valued at $3,986,000 after purchasing an additional 17,258 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on TCPC. Wells Fargo & Company reiterated an "underweight" rating and issued a $6.00 price objective (down previously from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. Wall Street Zen downgraded Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $6.75.

Blackrock Tcp Capital Stock Performance

TCPC stock traded down $0.0350 during midday trading on Monday, reaching $7.0450. 209,828 shares of the company's stock traded hands, compared to its average volume of 581,219. The company has a 50-day moving average price of $7.45 and a two-hundred day moving average price of $7.66. 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 Corp. has a 52 week low of $6.27 and a 52 week high of $9.72. The firm has a market capitalization of $599.11 million, a PE ratio of -41.44 and a beta of 1.01.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last issued its earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The business had revenue of $51.47 million for the quarter, compared to the consensus estimate of $56.16 million. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. As a group, equities analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued 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 dividend payout ratio is presently -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.