Hennion & Walsh Asset Management Inc. Has $3.08 Million 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% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 384,330 shares of the investment management company's stock after selling 45,658 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.45% of BlackRock TCP Capital worth $3,078,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TrueMark Investments LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth about $5,268,000. Envestnet Asset Management Inc. boosted its holdings 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 valued at $4,867,000 after purchasing an additional 481,581 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in BlackRock TCP Capital during the fourth quarter valued at approximately $2,939,000. GraniteShares Advisors LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter valued at approximately $2,453,000. Finally, Transcend Capital Advisors LLC boosted its holdings 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 valued at $12,477,000 after purchasing an additional 209,898 shares in the last quarter.

Insider Activity

In other news, CEO Philip M. Tseng purchased 10,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This represents a 34.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Wolfe purchased 6,100 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $8.12 per share, with a total value of $49,532.00. Following the acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 18,500 shares of company stock valued at $146,444 in the last quarter. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. 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. Wells Fargo & Company cut 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 research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped 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.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock remained flat at $7.82 on Friday. 285,606 shares of the company's stock traded hands, compared to its average volume of 586,304. The firm has a 50 day moving average price of $7.22 and a 200-day moving average price of $8.24. The company has a market cap of $665.00 million, a PE ratio of -15.64 and a beta of 1.03. BlackRock TCP Capital Corp. has a 52 week low of $6.27 and a 52 week high of $11.46. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its earnings results 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. The company had revenue of $55.89 million during the quarter, compared to analysts' expectations of $57.95 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. On average, analysts forecast that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.79%. The ex-dividend date of this dividend is Monday, June 16th. BlackRock TCP Capital's dividend payout ratio (DPR) 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.