Blackrock Tcp Capital Corp. $TCPC Shares Sold by Kovitz Investment Group Partners LLC

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 position in shares of 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 SEC. The fund 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 filing with the SEC.

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

Wall Street Analyst Weigh In

TCPC has been the subject of several research reports. Wells Fargo & Company restated an "underweight" rating and set a $6.00 price objective (down from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. Wall Street Zen cut shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $6.75.

Blackrock Tcp Capital Stock Down 0.6%

TCPC stock traded down $0.04 during trading on Thursday, reaching $7.10. The stock had a trading volume of 353,044 shares, compared to its average volume of 569,295. The company has a market capitalization of $603.78 million, a P/E ratio of -41.76 and a beta of 1.01. The firm has a fifty day moving average price of $7.46 and a 200 day moving average price of $7.70. 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 Corp. has a 1-year low of $6.27 and a 1-year high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last issued 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 company had revenue of $51.47 million during the quarter, compared to analyst estimates of $56.16 million. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. On average, equities analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.00 annualized dividend and a yield of 14.1%. Blackrock Tcp Capital's dividend payout ratio is -588.24%.

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.