Hennion & Walsh Asset Management Inc. Decreases Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Hennion & Walsh Asset Management Inc. lessened its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 384,330 shares of the investment management company's stock after selling 45,658 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.45% of BlackRock TCP Capital worth $3,078,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $886,000. Envestnet Asset Management Inc. lifted its holdings in BlackRock TCP Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after purchasing an additional 481,581 shares in the last quarter. Virtu Financial LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth about $329,000. Samalin Investment Counsel LLC grew its holdings in BlackRock TCP Capital by 68.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company's stock valued at $922,000 after buying an additional 42,827 shares in the last quarter. Finally, TrueMark Investments LLC bought a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at about $5,268,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TCPC shares. Wall Street Zen cut shares of BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods reduced their price target 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 lowered their price objective on 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.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC remained flat at $7.82 during trading hours on Thursday. The company had a trading volume of 543,528 shares, compared to its average volume of 586,147. The stock has a 50 day moving average price of $7.23 and a 200-day moving average price of $8.26. The stock has a market capitalization of $665.00 million, a PE ratio of -15.64 and a beta of 1.03. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52.

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, topping 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 forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.79%. The ex-dividend date of this dividend is Monday, June 16th. BlackRock TCP Capital's payout ratio is -172.41%.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Philip M. Tseng acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares of the company's stock, valued at $298,663.38. The trade was a 34.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Wolfe bought 6,100 shares of the business's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 18,500 shares of company stock valued at $146,444. 0.21% of the stock is currently owned by corporate insiders.

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.