Wealthedge Investment Advisors LLC Acquires New Holdings in Blackrock Tcp Capital Corp. (NASDAQ: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 acquired a new stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 133,023 shares of the investment management company's stock, valued at approximately $1,066,000. Wealthedge Investment Advisors LLC owned approximately 0.16% of Blackrock Tcp Capital as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TCPC. Cetera Investment Advisers bought a new position in shares of Blackrock Tcp Capital in the first quarter valued at approximately $4,514,000. Envestnet Asset Management Inc. raised its position in shares of 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 during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blackrock Tcp Capital in the fourth quarter valued at approximately $2,939,000. Privium Fund Management UK Ltd bought a new position in shares of Blackrock Tcp Capital in the first quarter valued at approximately $1,180,000. Finally, Jane Street Group LLC raised its position in shares of Blackrock Tcp Capital by 291.5% in the fourth 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 period.

Blackrock Tcp Capital Trading Down 1.0%

Shares of TCPC stock opened at $7.15 on Friday. Blackrock Tcp Capital Corp. has a 1 year low of $6.27 and a 1 year high of $9.72. The firm's fifty day simple moving average is $7.54 and its 200 day simple moving average is $7.77. The firm has a market capitalization of $608.04 million, a P/E ratio of -42.06 and a beta of 1.01. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last posted 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). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $56.16 million. As a group, sell-side analysts predict that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 14.0%. Blackrock Tcp Capital's payout ratio is currently -588.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on TCPC. Wells Fargo & Company reissued an "underweight" rating and issued a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday. Wall Street Zen lowered shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

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.

Want to see what other hedge funds are holding TCPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.