North Ground Capital Has $2.92 Million Stock Holdings in Blackrock Tcp Capital Corp. $TCPC

Key Points

• North Ground Capital has significantly increased its stake in Blackrock Tcp Capital by 1,209.0% in the first quarter, now holding approximately $2.92 million worth of shares.
• Blackrock Tcp Capital reported quarterly earnings of $0.32 EPS, missing analyst expectations, and the company has announced a quarterly dividend of $0.25 per share, equating to an annual yield of 14.2%.
• Research analysts have recently downgraded Blackrock Tcp Capital's stock, with an average rating of "Reduce" and a target price lowered to $6.75.

North Ground Capital lifted its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 1,209.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,000 shares of the investment management company's stock after acquiring an additional 337,116 shares during the quarter. Blackrock Tcp Capital makes up 2.9% of North Ground Capital's portfolio, making the stock its 12th biggest holding. North Ground Capital owned 0.43% of Blackrock Tcp Capital worth $2,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TCPC. Cetera Investment Advisers purchased a new position in Blackrock Tcp Capital in the first quarter valued at about $4,514,000. Privium Fund Management UK Ltd bought a new stake in shares of Blackrock Tcp Capital in the 1st quarter valued at approximately $1,180,000. Wealthedge Investment Advisors LLC acquired a new position in Blackrock Tcp Capital in the first quarter worth approximately $1,066,000. Jane Street Group LLC raised its position in Blackrock Tcp Capital by 291.5% during the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock valued at $1,243,000 after acquiring an additional 106,257 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Blackrock Tcp Capital in the fourth quarter valued at approximately $886,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TCPC shares. Wall Street Zen lowered shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Wells Fargo & Company reiterated an "underweight" rating and set a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $6.75.

Blackrock Tcp Capital Stock Performance

Shares of Blackrock Tcp Capital stock traded down $0.02 during midday trading on Thursday, hitting $7.13. The company had a trading volume of 271,236 shares, compared to its average volume of 539,237. Blackrock Tcp Capital Corp. has a 1-year low of $6.27 and a 1-year high of $9.72. The business's 50 day simple moving average is $7.42 and its two-hundred day simple moving average is $7.63. The stock has a market cap of $606.34 million, a PE ratio of -41.94 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 issued its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The company had revenue of $51.47 million during the quarter, compared to the consensus estimate of $56.16 million. As a group, equities analysts predict that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.0%. Blackrock Tcp Capital's payout ratio is currently -588.24%.

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.