Redhawk Wealth Advisors Inc. Invests $822,000 in Blackrock Tcp Capital Corp. $TCPC

Key Points

• Redhawk Wealth Advisors Inc. acquired a new stake in Blackrock Tcp Capital Corp., purchasing 106,720 shares valued at approximately $822,000, representing a 0.13% ownership in the company.
• Blackrock Tcp Capital has seen significant modifications in institutional investor holdings, with Wealth Enhancement Advisory Services increasing its stake by 13.1% and Jones Financial Companies raising its position by an astonishing 5,349.6%.
• Analysts have downgraded Blackrock Tcp Capital's stock from a "buy" to a "hold" rating, with Wells Fargo setting a price target of $6.00, down from $6.50, reflecting a consensus rating of "Reduce."

Redhawk Wealth Advisors Inc. acquired a new position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 106,720 shares of the investment management company's stock, valued at approximately $822,000. Redhawk Wealth Advisors Inc. owned about 0.13% of Blackrock Tcp Capital as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TCPC. Merit Financial Group LLC acquired a new stake in shares of Blackrock Tcp Capital during the first quarter worth $111,000. Romano Brothers AND Company boosted its holdings in shares of Blackrock Tcp Capital by 522.7% during the first quarter. Romano Brothers AND Company now owns 87,645 shares of the investment management company's stock worth $702,000 after purchasing an additional 73,570 shares during the last quarter. Curated Wealth Partners LLC boosted its holdings in shares of Blackrock Tcp Capital by 35.0% during the first quarter. Curated Wealth Partners LLC now owns 38,587 shares of the investment management company's stock worth $309,000 after purchasing an additional 10,000 shares during the last quarter. GraniteShares Advisors LLC boosted its holdings in shares of Blackrock Tcp Capital by 6.5% during the first quarter. GraniteShares Advisors LLC now owns 299,846 shares of the investment management company's stock worth $2,402,000 after purchasing an additional 18,170 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Blackrock Tcp Capital during the first quarter worth $83,000.

Analyst Upgrades and Downgrades

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

Blackrock Tcp Capital Stock Down 3.8%

NASDAQ:TCPC traded down $0.25 during mid-day trading on Monday, hitting $6.33. The company had a trading volume of 1,069,717 shares, compared to its average volume of 571,884. The business has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $7.38. 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. The firm has a market capitalization of $538.30 million, a price-to-earnings ratio of -37.24 and a beta of 1.04.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $56.16 million. Equities analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 annualized dividend and a yield of 15.8%. Blackrock Tcp Capital's dividend payout ratio (DPR) is -588.24%.

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.