Kovitz Investment Group Partners LLC Decreases Stake in Blackrock Tcp Capital Corp. $TCPC

Key Points

• Kovitz Investment Group Partners LLC has reduced its stake in Blackrock Tcp Capital Corp. by 13.1%, holding approximately 0.29% of the company valued at $1,985,000 after selling 37,277 shares.
• The company recently reported an EPS of $0.32, missing analysts' estimates of $0.34, with revenue of $51.47 million compared to a consensus of $56.16 million.
• Blackrock Tcp Capital has announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 14.2%.

Kovitz Investment Group Partners LLC decreased its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,774 shares of the investment management company's stock after selling 37,277 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.29% of Blackrock Tcp Capital worth $1,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Blackrock Tcp Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock worth $48,000 after buying an additional 3,508 shares in the last quarter. Transce3nd LLC purchased a new position in Blackrock Tcp Capital in the 4th quarter worth approximately $70,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Blackrock Tcp Capital during the 1st quarter worth approximately $81,000. PNC Financial Services Group Inc. increased its holdings in shares of Blackrock Tcp Capital by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock valued at $82,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Blackrock Tcp Capital during the first quarter worth approximately $83,000.

Blackrock Tcp Capital Stock Down 0.3%

Shares of NASDAQ TCPC traded down $0.02 during midday trading on Friday, hitting $7.08. The company's stock had a trading volume of 356,461 shares, compared to its average volume of 567,707. Blackrock Tcp Capital Corp. has a 1 year low of $6.27 and a 1 year high of $9.72. The business's fifty day simple moving average is $7.45 and its two-hundred day simple moving average is $7.66. The firm has a market capitalization of $602.08 million, a price-to-earnings ratio of -41.65 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a current ratio of 14.06 and a quick ratio of 14.07.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. On average, equities 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 14.1%. Blackrock Tcp Capital's dividend payout ratio (DPR) is -588.24%.

Analyst Ratings Changes

Several analysts have issued reports on TCPC shares. Wells Fargo & Company restated an "underweight" rating and issued a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. Wall Street Zen lowered shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $6.75.

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.