Wealthedge Investment Advisors LLC Buys Shares of 133,023 Blackrock Tcp Capital Corp. $TCPC

Key Points

• Wealthedge Investment Advisors LLC has acquired a new stake in Blackrock Tcp Capital Corp., purchasing 133,023 shares valued at approximately $1,066,000 during the first quarter.
• Blackrock Tcp Capital recently reported earnings per share (EPS) of $0.32 for the quarter, missing analysts' expectations, and generated revenue of $51.47 million.
• The company declared a quarterly dividend of $0.25 per share, with a yield of 14.0%, scheduled for payment on September 30th.

Wealthedge Investment Advisors LLC bought a new position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 133,023 shares of the investment management company's stock, valued at approximately $1,066,000. Wealthedge Investment Advisors LLC owned about 0.16% of Blackrock Tcp Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in Blackrock Tcp Capital during the 1st quarter valued at about $4,514,000. Envestnet Asset Management Inc. grew its stake in Blackrock Tcp Capital by 623.5% during the 4th 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Blackrock Tcp Capital during the 4th quarter valued at about $2,939,000. Privium Fund Management UK Ltd purchased a new stake in Blackrock Tcp Capital during the 1st quarter valued at about $1,180,000. Finally, Jane Street Group LLC grew its stake in Blackrock Tcp Capital by 291.5% during the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock valued at $1,243,000 after purchasing an additional 106,257 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on TCPC. Wells Fargo & Company reiterated an "underweight" rating and set a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. Wall Street Zen downgraded Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Blackrock Tcp Capital currently has a consensus rating of "Reduce" and a consensus price target of $6.75.

Blackrock Tcp Capital Price Performance

NASDAQ TCPC traded down $0.0350 during trading hours on Wednesday, reaching $7.1150. The company's stock had a trading volume of 105,135 shares, compared to its average volume of 584,873. The firm has a market capitalization of $605.06 million, a price-to-earnings ratio of -41.85 and a beta of 1.01. Blackrock Tcp Capital Corp. has a 1-year low of $6.27 and a 1-year high of $9.72. 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 company's 50-day moving average is $7.49 and its two-hundred day moving average is $7.71.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. On average, equities analysts predict that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 14.1%. Blackrock Tcp Capital's dividend payout ratio is presently -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.