Samalin Investment Counsel LLC Reduces Holdings in Blackrock Tcp Capital Corp. $TCPC

Key Points

• Samalin Investment Counsel LLC has reduced its stake in Blackrock Tcp Capital Corp. by 35.2% during Q1, now owning 68,575 shares valued at approximately $549,000.
• Blackrock Tcp Capital recently announced a quarterly dividend of $0.25 per share, translating to an annual yield of 14.2%.
• Analysts have downgraded Blackrock Tcp Capital's stock rating to a "hold" with a price target of $6.75, down from earlier estimates.

Samalin Investment Counsel LLC lessened its position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 35.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,575 shares of the investment management company's stock after selling 37,248 shares during the period. Samalin Investment Counsel LLC owned 0.08% of Blackrock Tcp Capital worth $549,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Blackrock Tcp Capital by 177.2% during 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 buying an additional 3,508 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Blackrock Tcp Capital during the 1st quarter valued at $81,000. PNC Financial Services Group Inc. raised its stake 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 valued at $82,000 after purchasing an additional 2,200 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Blackrock Tcp Capital during the 1st quarter valued at $83,000. Finally, VSM Wealth Advisory LLC raised its stake in shares of Blackrock Tcp Capital by 15.9% during the 1st 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 period.

Blackrock Tcp Capital Price Performance

NASDAQ TCPC traded up $0.08 during trading on Friday, reaching $7.21. The company's stock had a trading volume of 451,876 shares, compared to its average volume of 536,272. The stock has a market capitalization of $613.14 million, a PE ratio of -42.41 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. The firm has a fifty day moving average of $7.41 and a 200 day moving average of $7.60. Blackrock Tcp Capital Corp. has a one year low of $6.27 and a one year high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last announced 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). The firm had revenue of $51.47 million for the quarter, compared to the consensus estimate of $56.16 million. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. Analysts expect 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 annualized dividend and a dividend yield of 13.9%. Blackrock Tcp Capital's dividend payout ratio is -588.24%.

Wall Street Analyst Weigh In

TCPC has been the topic of a number of analyst reports. Wall Street Zen lowered 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 objective (down 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $6.75.

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.