Cetera Investment Advisers Takes $4.51 Million Position in BLACKROCK TCP CAPITAL CORP. (NASDAQ:TCPC)

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 BLACKROCK TCP CAPITAL CORP. (NASDAQ:TCPC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 563,542 shares of the investment management company's stock, valued at approximately $4,514,000. Cetera Investment Advisers owned 0.66% of BLACKROCK TCP CAPITAL at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TCPC. Transcend Capital Advisors LLC boosted its position in BLACKROCK TCP CAPITAL by 2.8% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company's stock valued at $11,796,000 after acquiring an additional 40,153 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in BLACKROCK TCP CAPITAL by 6.2% during the first quarter. Envestnet Asset Management Inc. now owns 593,485 shares of the investment management company's stock valued at $4,754,000 after buying an additional 34,670 shares during the period. Columbus Macro LLC boosted its holdings in shares of BLACKROCK TCP CAPITAL by 7.7% during the 1st quarter. Columbus Macro LLC now owns 516,303 shares of the investment management company's stock valued at $4,136,000 after buying an additional 36,692 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of BLACKROCK TCP CAPITAL by 1.7% in the 1st quarter. D.A. Davidson & CO. now owns 475,460 shares of the investment management company's stock worth $3,808,000 after buying an additional 7,954 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BLACKROCK TCP CAPITAL in the 4th quarter worth about $2,939,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TCPC. Keefe, Bruyette & Woods dropped their price target on BLACKROCK TCP CAPITAL from $8.50 to $7.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price target on BLACKROCK TCP CAPITAL from $7.50 to $6.50 and set an "underweight" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen downgraded BLACKROCK TCP CAPITAL from a "buy" rating to a "hold" rating in a report on Sunday, July 13th.

BLACKROCK TCP CAPITAL Stock Performance

Shares of TCPC traded up $0.14 during trading hours on Tuesday, hitting $7.17. The stock had a trading volume of 738,224 shares, compared to its average volume of 437,166. The stock has a fifty day moving average price of $7.65 and a 200 day moving average price of $7.86. The firm has a market capitalization of $609.74 million, a PE ratio of -12.36 and a beta of 1.01. BLACKROCK TCP CAPITAL CORP. has a 12 month low of $6.27 and a 12 month high of $10.13. 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 (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $55.89 million for the quarter, compared to analysts' expectations of $57.95 million. BLACKROCK TCP CAPITAL had a negative net margin of 18.22% and a positive return on equity of 15.51%. Analysts anticipate that BLACKROCK TCP CAPITAL CORP. will post 1.65 EPS for the current year.

BLACKROCK TCP CAPITAL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 13.9%. The ex-dividend date was Monday, June 16th. BLACKROCK TCP CAPITAL's dividend payout ratio is -172.41%.

BLACKROCK TCP CAPITAL 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.