Ignite Planners LLC Trims Stock Position in Blackrock Tcp Capital Corp. $TCPC

Key Points

• Ignite Planners LLC reduced its stake in Blackrock Tcp Capital Corp. by 67.5% in the second quarter, leading to ownership of 30,754 shares valued at $236,000.
• Blackrock Tcp Capital's stock has declined by 2.9% and currently trades at $5.67, with a twelve-month high of $9.72.
• The company announced a quarterly dividend of $0.25, yielding 17.6%, but faces negative margins with a dividend payout ratio of -588.24%.

Ignite Planners LLC decreased its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 67.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,754 shares of the investment management company's stock after selling 64,012 shares during the period. Ignite Planners LLC's holdings in Blackrock Tcp Capital were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Next Capital Management LLC boosted its stake in Blackrock Tcp Capital by 2,131.4% in the second quarter. Next Capital Management LLC now owns 1,134,826 shares of the investment management company's stock valued at $8,738,000 after acquiring an additional 1,083,968 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Blackrock Tcp Capital in the 1st quarter valued at about $4,514,000. North Ground Capital lifted its holdings in shares of Blackrock Tcp Capital by 1,209.0% in the 1st quarter. North Ground Capital now owns 365,000 shares of the investment management company's stock valued at $2,924,000 after purchasing an additional 337,116 shares during the last quarter. Privium Fund Management UK Ltd acquired a new stake in shares of Blackrock Tcp Capital in the 1st quarter valued at about $1,180,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in Blackrock Tcp Capital during the 1st quarter worth approximately $1,066,000.

Blackrock Tcp Capital Stock Down 2.9%

Blackrock Tcp Capital stock opened at $5.67 on Thursday. The stock has a 50 day moving average of $6.82 and a two-hundred day moving average of $7.23. Blackrock Tcp Capital Corp. has a twelve month low of $5.67 and a twelve month high of $9.72. The stock has a market capitalization of $482.15 million, a price-to-earnings ratio of -33.35 and a beta of 1.04. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The company had revenue of $51.47 million for the quarter, compared to analysts' expectations of $56.16 million. As a group, research analysts expect that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 17.6%. The ex-dividend date was Tuesday, September 16th. Blackrock Tcp Capital's dividend payout ratio (DPR) is -588.24%.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of research reports. Wall Street Zen cut Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackrock Tcp Capital in a report on Wednesday. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Sell" and a consensus target price of $6.75.

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.

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