Two Sigma Advisers LP decreased its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,074,817 shares of the investment management company's stock after selling 43,000 shares during the period. Two Sigma Advisers LP owned about 1.26% of BlackRock TCP Capital worth $9,362,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of 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 during the period. Transcend Capital Advisors LLC lifted its stake in shares of BlackRock TCP Capital by 17.2% in 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 period. TrueMark Investments LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at about $5,268,000. Envestnet Asset Management Inc. raised its position in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock worth $4,867,000 after acquiring an additional 481,581 shares during the last quarter. Finally, Barings LLC raised its position in BlackRock TCP Capital by 5.0% during the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company's stock worth $4,184,000 after acquiring an additional 22,675 shares during the last quarter.
Insider Activity at BlackRock TCP Capital
In other news, CEO Philip M. Tseng purchased 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares in the company, valued at $298,663.38. The trade was a 34.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Wolfe bought 6,100 shares of the business's stock in a transaction on Friday, March 14th. The stock was bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 18,500 shares of company stock valued at $146,444 over the last ninety days. Insiders own 0.21% of the company's stock.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of BlackRock TCP Capital from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. 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 on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a research report on Monday, April 28th.
Get Our Latest Research Report on TCPC
BlackRock TCP Capital Stock Performance
Shares of NASDAQ TCPC traded down $0.08 during midday trading on Wednesday, hitting $7.81. The company's stock had a trading volume of 74,991 shares, compared to its average volume of 587,441. BlackRock TCP Capital Corp. has a 1-year low of $6.27 and a 1-year high of $11.52. The firm's fifty day moving average price is $7.24 and its 200-day moving average price is $8.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm has a market cap of $663.72 million, a P/E ratio of -15.61 and a beta of 1.03.
BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The company had revenue of $55.89 million for the quarter, compared to the consensus estimate of $57.95 million. On average, sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current fiscal year.
BlackRock TCP Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.81%. The ex-dividend date of this dividend is Monday, June 16th. BlackRock TCP Capital's dividend payout ratio is presently -172.41%.
BlackRock TCP Capital Company Profile
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Free Report)
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.
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