North Ground Capital Boosts Stock Position 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 boosted its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 1,209.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,000 shares of the investment management company's stock after purchasing an additional 337,116 shares during the period. Blackrock Tcp Capital comprises approximately 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Blackrock Tcp Capital by 177.2% in the fourth 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 during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Blackrock Tcp Capital in the first quarter valued at approximately $81,000. PNC Financial Services Group Inc. lifted its stake in 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. Wealth Enhancement Advisory Services LLC purchased a new position in Blackrock Tcp Capital in the first quarter valued at approximately $83,000. Finally, VSM Wealth Advisory LLC lifted its stake in Blackrock Tcp Capital by 15.9% in the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company's stock valued at $90,000 after purchasing an additional 1,537 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Blackrock Tcp Capital Price Performance

Shares of Blackrock Tcp Capital stock traded up $0.08 during trading on Friday, hitting $7.21. The stock had a trading volume of 451,876 shares, compared to its average volume of 536,272. The firm has a market cap of $613.14 million, a price-to-earnings ratio of -42.41 and a beta of 1.01. Blackrock Tcp Capital Corp. has a 12 month low of $6.27 and a 12 month high of $9.72. The business's 50-day moving average is $7.41 and its 200 day moving average is $7.60. 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 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $51.47 million during the quarter, compared to the consensus estimate of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. As a group, sell-side analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 13.9%. Blackrock Tcp Capital's dividend payout ratio is presently -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.