Envestnet Asset Management Inc. Acquires 34,670 Shares of BLACKROCK TCP CAPITAL CORP. (NASDAQ:TCPC)

Envestnet Asset Management Inc. increased its position in BLACKROCK TCP CAPITAL CORP. (NASDAQ:TCPC - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 593,485 shares of the investment management company's stock after acquiring an additional 34,670 shares during the period. Envestnet Asset Management Inc. owned about 0.70% of BLACKROCK TCP CAPITAL worth $4,754,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC increased its stake in shares of BLACKROCK TCP CAPITAL by 2.8% in the 1st quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company's stock worth $11,796,000 after purchasing an additional 40,153 shares in the last quarter. Columbus Macro LLC increased its stake in shares of BLACKROCK TCP CAPITAL by 7.7% in the 1st 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. increased its stake 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 purchasing an additional 7,954 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of BLACKROCK TCP CAPITAL in the 4th quarter worth $2,939,000. Finally, GraniteShares Advisors LLC increased its stake in shares of BLACKROCK TCP CAPITAL by 6.5% in the 1st quarter. GraniteShares Advisors LLC now owns 299,846 shares of the investment management company's stock worth $2,402,000 after purchasing an additional 18,170 shares in the last quarter.

Analyst Ratings Changes

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

BLACKROCK TCP CAPITAL Price Performance

Shares of TCPC traded down $0.17 during midday trading on Monday, hitting $7.34. 607,581 shares of the company traded hands, compared to its average volume of 392,839. The firm has a 50 day moving average of $7.70 and a 200-day moving average of $7.91. BLACKROCK TCP CAPITAL CORP. has a 52 week low of $6.27 and a 52 week high of $10.87. The stock has a market cap of $624.19 million, a price-to-earnings ratio of -12.65 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 34.00 and a current ratio of 34.00.

BLACKROCK TCP CAPITAL (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate 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 business had revenue of $55.89 million during the quarter, compared to the consensus estimate of $57.95 million. On average, analysts forecast that BLACKROCK TCP CAPITAL CORP. will post 1.65 EPS for the current fiscal year.

BLACKROCK TCP CAPITAL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 13.62%. The ex-dividend date was Monday, June 16th. BLACKROCK TCP CAPITAL's dividend payout ratio (DPR) is presently -172.41%.

About BLACKROCK TCP CAPITAL

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.