Columbus Macro LLC Acquires 36,692 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Columbus Macro LLC increased its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 516,303 shares of the investment management company's stock after purchasing an additional 36,692 shares during the period. Columbus Macro LLC owned 0.61% of BlackRock TCP Capital worth $4,136,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp grew its holdings in BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock worth $19,186,000 after purchasing an additional 95,603 shares during the period. Transcend Capital Advisors LLC lifted its position in BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after acquiring an additional 209,898 shares during the last quarter. TrueMark Investments LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter worth approximately $5,268,000. Envestnet Asset Management Inc. lifted its position in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after acquiring an additional 481,581 shares during the last quarter. Finally, Barings LLC lifted its position in BlackRock TCP Capital by 5.0% during the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company's stock worth $4,184,000 after acquiring an additional 22,675 shares during the last quarter.

BlackRock TCP Capital Stock Down 0.4%

NASDAQ TCPC opened at $7.77 on Monday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 1-year low of $6.27 and a 1-year high of $11.06. The company has a 50 day moving average of $7.29 and a 200-day moving average of $8.19. The company has a market cap of $660.75 million, a price-to-earnings ratio of -15.54 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The company had revenue of $55.89 million during the quarter, compared to the consensus estimate of $57.95 million. On average, equities research analysts expect that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.25 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.87%. BlackRock TCP Capital's payout ratio is -172.41%.

Insider Activity

In other BlackRock TCP Capital news, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the transaction, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research report on Monday, April 28th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.