563,542 Shares in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers has made a new investment of approximately $4.51 million in Blackrock Tcp Capital Corp., acquiring 563,542 shares, representing 0.66% ownership.
• Multiple institutional investors, including Universal Beteiligungs und Servicegesellschaft mbH and VSM Wealth Advisory LLC, have also increased their stakes in Blackrock Tcp Capital, showing growing interest in the stock.
• Analysts have downgraded their price targets for Blackrock Tcp Capital shares, with Wells Fargo lowering its target from $7.50 to $6.50 and setting an "underweight" rating.

Cetera Investment Advisers acquired a new stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 563,542 shares of the investment management company's stock, valued at approximately $4,514,000. Cetera Investment Advisers owned approximately 0.66% of Blackrock Tcp Capital as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in Blackrock Tcp Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after buying an additional 3,508 shares during the period. Transce3nd LLC acquired a new stake in Blackrock Tcp Capital in the fourth quarter valued at $70,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Blackrock Tcp Capital during the 1st quarter worth about $81,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Blackrock Tcp Capital during the 1st quarter worth about $83,000. Finally, VSM Wealth Advisory LLC boosted its holdings in 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 in the last quarter.

Blackrock Tcp Capital Stock Down 3.5%

Shares of TCPC traded down $0.26 during trading hours on Thursday, hitting $6.95. The stock had a trading volume of 1,039,906 shares, compared to its average volume of 585,548. The firm has a market capitalization of $590.60 million, a P/E ratio of -12.01 and a beta of 1.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 34.00 and a quick ratio of 34.00. Blackrock Tcp Capital Corp. has a 1-year low of $6.27 and a 1-year high of $9.72. The firm has a 50 day simple moving average of $7.62 and a 200-day simple moving average of $7.85.

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 the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. Sell-side analysts predict that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on TCPC. Wells Fargo & Company decreased their price objective on shares of Blackrock Tcp Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a research report on Monday, April 28th. Wall Street Zen lowered Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a report on Sunday, July 13th.

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.