Blackrock Tcp Capital Corp. (NASDAQ:TCPC) Position Trimmed by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has reduced its position in Blackrock Tcp Capital Corp. by 76.0%, now holding 15,455 shares valued at approximately $124,000.
• Blackrock Tcp Capital reported $0.36 EPS for the last quarter, surpassing analysts' forecast of $0.34, despite having a negative net margin of 18.22%.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 13.9%, though with a negative dividend payout ratio of -172.41%.

Y Intercept Hong Kong Ltd reduced its stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Free Report) by 76.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,455 shares of the investment management company's stock after selling 48,916 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Blackrock Tcp Capital were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TCPC. Envestnet Asset Management Inc. raised its position in 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 worth $4,867,000 after acquiring an additional 481,581 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Blackrock Tcp Capital in the fourth quarter worth about $2,939,000. Jane Street Group LLC raised its position in 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 worth $1,243,000 after acquiring an additional 106,257 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Blackrock Tcp Capital in the fourth quarter worth about $886,000. Finally, Romano Brothers AND Company raised its position in Blackrock Tcp Capital by 522.7% in the first quarter. Romano Brothers AND Company now owns 87,645 shares of the investment management company's stock worth $702,000 after acquiring an additional 73,570 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have commented on TCPC. Wall Street Zen cut shares of Blackrock Tcp Capital from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Keefe, Bruyette & Woods dropped their price target 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 dropped their price target 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.

Blackrock Tcp Capital Trading Down 0.6%

TCPC traded down $0.04 during trading on Friday, reaching $7.13. The company had a trading volume of 492,612 shares, compared to its average volume of 410,202. The firm's 50-day simple moving average is $7.66 and its 200 day simple moving average is $7.88. The company has a market cap of $606.34 million, a price-to-earnings ratio of -12.29 and a beta of 1.01. Blackrock Tcp Capital Corp. has a 12-month low of $6.27 and a 12-month high of $10.59. The company has a debt-to-equity ratio of 1.41, a quick ratio of 34.00 and a current ratio of 34.00.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The firm had revenue of $55.89 million for the quarter, compared to analysts' expectations of $57.95 million. Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. Equities research analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 14.0%. Blackrock Tcp Capital's dividend payout ratio (DPR) is currently -172.41%.

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.