Envestnet Asset Management Inc. lifted its holdings in shares of BLACKROCK TCP CAPITAL CORP. (NASDAQ:TCPC - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,485 shares of the investment management company's stock after purchasing an additional 34,670 shares during the quarter. Envestnet Asset Management Inc. owned about 0.70% of BLACKROCK TCP CAPITAL worth $4,754,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Transcend Capital Advisors LLC raised its position in BLACKROCK TCP CAPITAL by 2.8% in the first quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company's stock valued at $11,796,000 after purchasing an additional 40,153 shares during the period. Columbus Macro LLC grew its stake in BLACKROCK TCP CAPITAL by 7.7% in the first quarter. Columbus Macro LLC now owns 516,303 shares of the investment management company's stock worth $4,136,000 after purchasing an additional 36,692 shares in the last quarter. D.A. Davidson & CO. grew its stake in BLACKROCK TCP CAPITAL by 1.7% in the first quarter. D.A. Davidson & CO. now owns 475,460 shares of the investment management company's stock worth $3,808,000 after purchasing an additional 7,954 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in BLACKROCK TCP CAPITAL in the fourth quarter valued at approximately $2,939,000. Finally, GraniteShares Advisors LLC boosted its stake in BLACKROCK TCP CAPITAL by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 299,846 shares of the investment management company's stock valued at $2,402,000 after acquiring an additional 18,170 shares during the period.
BLACKROCK TCP CAPITAL Stock Down 1.2%
NASDAQ:TCPC traded down $0.09 during trading hours on Friday, reaching $7.51. The company's stock had a trading volume of 341,685 shares, compared to its average volume of 416,372. 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 one year low of $6.27 and a one year high of $10.87. The business's 50-day moving average is $7.71 and its 200-day moving average is $7.93. The company has a market cap of $638.65 million, a price-to-earnings ratio of -12.95 and a beta of 1.02.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. BLACKROCK TCP CAPITAL had a negative net margin of 18.22% and a positive return on equity of 15.51%. The company had revenue of $55.89 million during the quarter, compared to analysts' expectations of $57.95 million. Equities research analysts predict that BLACKROCK TCP CAPITAL CORP. will post 1.65 EPS for the current year.
BLACKROCK TCP CAPITAL Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 13.32%. The ex-dividend date was Monday, June 16th. BLACKROCK TCP CAPITAL's payout ratio is presently -172.41%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on 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. Wall Street Zen cut BLACKROCK TCP CAPITAL from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of BLACKROCK TCP CAPITAL from $8.50 to $7.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.
View Our Latest Analysis on BLACKROCK TCP CAPITAL
About BLACKROCK TCP CAPITAL
(
Free Report)
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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