Invesco Ltd. Lowers Stock Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Invesco Ltd. decreased its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,555,679 shares of the investment management company's stock after selling 124,373 shares during the quarter. Invesco Ltd. owned 1.82% of BlackRock TCP Capital worth $13,550,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC raised its position in BlackRock TCP Capital by 18.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company's stock valued at $130,000 after purchasing an additional 2,350 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of BlackRock TCP Capital by 33.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company's stock valued at $139,000 after acquiring an additional 4,000 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth $38,000. Verdence Capital Advisors LLC grew its stake in shares of BlackRock TCP Capital by 43.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 17,350 shares of the investment management company's stock worth $151,000 after purchasing an additional 5,250 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in BlackRock TCP Capital in the third quarter valued at $46,000.

Analyst Ratings Changes

TCPC has been the subject of several recent research reports. StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Wells Fargo & Company lowered their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.33.

Insider Activity

In other news, COO Patrick Wolfe acquired 6,100 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 cost of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock worth $146,444 in the last three months. Company insiders own 0.16% of the company's stock.

BlackRock TCP Capital Trading Up 0.6 %

Shares of NASDAQ:TCPC traded up $0.04 during mid-day trading on Friday, hitting $7.02. The company had a trading volume of 446,334 shares, compared to its average volume of 571,806. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital Corp. has a one year low of $6.27 and a one year high of $11.52. The firm has a fifty day moving average price of $7.74 and a 200 day moving average price of $8.44. The company has a market capitalization of $597.24 million, a PE ratio of -14.04 and a beta of 1.21.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.25%. BlackRock TCP Capital's dividend payout ratio (DPR) is presently -133.33%.

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.