Caxton Associates LLP Buys Shares of 52,300 Blackrock Tcp Capital Corp. $TCPC

Key Points

• Caxton Associates LLP acquired 52,300 shares of Blackrock Tcp Capital Corp. valued at approximately $419,000, now holding 0.06% of the company.
• Blackrock Tcp Capital Corp. reported a quarterly EPS of $0.32, missing estimates, with total revenue of $51.47 million against expectations of $56.16 million.
• The company declared a quarterly dividend of $0.25 per share, representing a 14.0% yield, with an ex-dividend date set for September 16th.

Caxton Associates LLP bought a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,300 shares of the investment management company's stock, valued at approximately $419,000. Caxton Associates LLP owned 0.06% of Blackrock Tcp Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCPC. Cetera Investment Advisers acquired a new position in Blackrock Tcp Capital in the first quarter valued at about $4,514,000. North Ground Capital grew its stake in Blackrock Tcp Capital by 1,209.0% in the first quarter. North Ground Capital now owns 365,000 shares of the investment management company's stock valued at $2,924,000 after acquiring an additional 337,116 shares during the period. Privium Fund Management UK Ltd acquired a new position in Blackrock Tcp Capital in the first quarter valued at about $1,180,000. Wealthedge Investment Advisors LLC acquired a new position in Blackrock Tcp Capital in the first quarter valued at about $1,066,000. Finally, Jane Street Group LLC grew its stake in Blackrock Tcp Capital by 291.5% in the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock valued at $1,243,000 after acquiring an additional 106,257 shares during the period.

Blackrock Tcp Capital Stock Down 1.4%

TCPC stock opened at $7.12 on Friday. The business has a 50-day moving average of $7.32 and a 200-day moving average of $7.46. Blackrock Tcp Capital Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $9.72. The company has a debt-to-equity ratio of 1.59, a current ratio of 14.06 and a quick ratio of 14.07. The stock has a market capitalization of $605.48 million, a P/E ratio of -41.88 and a beta of 1.04.

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

Blackrock Tcp Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 annualized dividend and a yield of 14.0%. Blackrock Tcp Capital's dividend payout ratio is -588.24%.

Analyst Ratings Changes

A number of research analysts have issued reports on TCPC shares. Wells Fargo & Company reissued an "underweight" rating and issued a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. Wall Street Zen cut Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research report 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 MarketBeat, the company has an average rating of "Reduce" and an average price target of $6.75.

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.

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