BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Acquired by Barings LLC

Barings LLC lifted its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 3,878.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,492,789 shares of the investment management company’s stock after buying an additional 17,053,151 shares during the period. BlackRock TCP Capital comprises approximately 4.4% of Barings LLC’s investment portfolio, making the stock its 6th biggest position. Barings LLC owned approximately 0.20% of BlackRock TCP Capital worth $188,922,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in BlackRock TCP Capital by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after acquiring an additional 1,200 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of BlackRock TCP Capital in the first quarter worth $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital in the first quarter worth $31,000. LSV Asset Management increased its holdings in BlackRock TCP Capital by 1.1% in the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after purchasing an additional 3,147 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its position in BlackRock TCP Capital by 26.7% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 19,000 shares of the investment management company’s stock worth $232,000 after purchasing an additional 4,000 shares during the last quarter.

Insider Activity

In related news, Director Philip M. Tseng purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now owns 27,481 shares in the company, valued at $250,077.10. The disclosure for this purchase can be found here. Insiders have purchased 42,000 shares of company stock worth $381,875 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

BlackRock TCP Capital Trading Up 0.7 %

Shares of BlackRock TCP Capital stock opened at $9.13 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. BlackRock TCP Capital Corp. has a 52 week low of $8.59 and a 52 week high of $12.59. The stock has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $10.32. The stock has a market capitalization of $781.45 million, a PE ratio of 26.09 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, equities analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 14.90%. The ex-dividend date of this dividend is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.50 to $8.00 in a research note on Monday, August 26th. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock TCP Capital has a consensus rating of “Hold” and an average target price of $9.00.

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.