BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stake Lessened by Two Sigma Investments LP

Two Sigma Investments LP lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 25.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,422 shares of the investment management company's stock after selling 246,114 shares during the quarter. Two Sigma Investments LP owned approximately 0.83% of BlackRock TCP Capital worth $6,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth $38,000. Columbus Macro LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth $4,177,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in BlackRock TCP Capital by 12.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 238,432 shares of the investment management company's stock worth $2,077,000 after purchasing an additional 25,560 shares during the period. Entropy Technologies LP acquired a new position in BlackRock TCP Capital in the fourth quarter worth $115,000. Finally, Van ECK Associates Corp boosted its holdings 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 worth $19,186,000 after purchasing an additional 95,603 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TCPC. Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen cut BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research note on Friday.

Insiders Place Their Bets

In other BlackRock TCP Capital news, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Wolfe purchased 6,100 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This represents a 320.55% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 18,500 shares of company stock worth $146,444. 0.21% of the stock is owned by corporate insiders.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC traded down $0.05 during midday trading on Friday, reaching $7.82. 367,206 shares of the company traded hands, compared to its average volume of 589,011. BlackRock TCP Capital Corp. has a 52 week low of $6.27 and a 52 week high of $11.52. The stock has a 50-day moving average price of $7.24 and a 200 day moving average price of $8.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The company has a market cap 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 for the quarter, beating 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 business had revenue of $55.89 million for the quarter, compared to analysts' expectations of $57.95 million. Sell-side analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

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

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.