Raymond James Financial Inc. Makes New $886,000 Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Raymond James Financial Inc. bought a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 101,682 shares of the investment management company's stock, valued at approximately $886,000. Raymond James Financial Inc. owned approximately 0.12% of BlackRock TCP Capital as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TCPC. Avior Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter valued at about $38,000. VSM Wealth Advisory LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $84,000. Entropy Technologies LP acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $115,000. SeaCrest Wealth Management LLC increased its holdings in shares of 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. Finally, Bartlett & CO. Wealth Management LLC lifted its position in 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 worth $139,000 after buying an additional 4,000 shares in the last quarter.

BlackRock TCP Capital Stock Down 2.1 %

TCPC stock opened at $6.61 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $11.52. The firm has a market capitalization of $562.36 million, a price-to-earnings ratio of -13.22 and a beta of 1.03. The company's 50 day moving average price is $7.43 and its 200 day moving average price is $8.39.

BlackRock TCP Capital Cuts Dividend

The firm 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 annualized dividend and a dividend yield of 15.13%. BlackRock TCP Capital's dividend payout ratio is currently -133.33%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an "underweight" rating on the stock in a report on Monday, April 28th. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th.

Insider Activity

In other news, COO Patrick Wolfe acquired 6,100 shares of the company's stock in a transaction on Friday, March 14th. The shares were bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip M. Tseng purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now directly 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 disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 18,500 shares of company stock worth $146,444. 0.21% of the stock is currently owned by insiders.

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.

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.