Romano Brothers AND Company Buys 73,570 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Romano Brothers AND Company boosted its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 522.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,645 shares of the investment management company's stock after purchasing an additional 73,570 shares during the period. Romano Brothers AND Company owned about 0.10% of BlackRock TCP Capital worth $702,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TCPC. Van ECK Associates Corp grew its position in BlackRock TCP Capital by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock valued at $19,186,000 after purchasing an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock valued at $12,477,000 after purchasing an additional 209,898 shares during the last quarter. TrueMark Investments LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $5,268,000. Envestnet Asset Management Inc. grew its stake in BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after purchasing an additional 481,581 shares in the last quarter. Finally, Barings LLC grew its stake in BlackRock TCP Capital by 5.0% in the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company's stock valued at $4,184,000 after purchasing an additional 22,675 shares in the last quarter.

Insider Activity

In related news, CEO Philip M. Tseng purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the purchase, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of the business's stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 18,500 shares of company stock valued at $146,444. 0.21% of the stock is owned by company insiders.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC remained flat at $7.82 during midday trading on Friday. The stock had a trading volume of 285,606 shares, compared to its average volume of 586,304. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a one year low of $6.27 and a one year high of $11.46. The business has a 50 day moving average of $7.22 and a 200 day moving average of $8.24. The company has a market capitalization of $665.00 million, a price-to-earnings ratio of -15.64 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The company had revenue of $55.89 million during the quarter, compared to analysts' expectations of $57.95 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. On average, equities research analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.79%. BlackRock TCP Capital's payout ratio is presently -172.41%.

Analysts Set New Price Targets

A number of research firms have weighed in on TCPC. Wall Street Zen downgraded BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating for the company in a research report on Monday, April 28th.

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.