Y Intercept Hong Kong Ltd Has $589,000 Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Y Intercept Hong Kong Ltd grew its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 190.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,075 shares of the investment management company’s stock after purchasing an additional 46,595 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in BlackRock TCP Capital were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TCPC. MeadowBrook Investment Advisors LLC lifted its stake in shares of BlackRock TCP Capital by 22.2% in the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock worth $90,000 after acquiring an additional 1,970 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of BlackRock TCP Capital in the third quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of BlackRock TCP Capital in the second quarter worth approximately $60,000. Pathway Financial Advisers LLC lifted its stake in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after acquiring an additional 6,379 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in shares of BlackRock TCP Capital by 13.8% in the third quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company’s stock worth $562,000 after acquiring an additional 8,238 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently commented on TCPC. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Price Performance

Shares of TCPC stock opened at $9.51 on Friday. The stock has a 50 day simple moving average of $8.70 and a two-hundred day simple moving average of $9.48. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a fifty-two week low of $7.71 and a fifty-two week high of $12.03.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, analysts forecast that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 18.51%. BlackRock TCP Capital’s payout ratio is currently -271.99%.

Insider Activity

In other news, President Jason Mehring acquired 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the president now directly owns 19,914 shares in the company, valued at $185,200.20. The trade was a 29.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

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.