Disciplined Investments LLC Invests $108,000 in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Disciplined Investments LLC purchased a new position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the second quarter, HoldingsChannel reports. The firm purchased 10,000 shares of the investment management company’s stock, valued at approximately $108,000.

A number of other hedge funds have also recently made changes to their positions in TCPC. Barings LLC grew its holdings in shares of BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of BlackRock TCP Capital by 58.5% in the first quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after purchasing an additional 619,519 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of BlackRock TCP Capital in the first quarter worth about $4,172,000. Condor Capital Management bought a new position in shares of BlackRock TCP Capital in the first quarter worth about $3,887,000. Finally, Transcend Capital Advisors LLC grew its holdings in shares of BlackRock TCP Capital by 61.5% in the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after purchasing an additional 297,393 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TCPC. Wells Fargo & Company downgraded shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.00.

BlackRock TCP Capital Stock Down 2.0 %

Shares of BlackRock TCP Capital stock opened at $8.50 on Wednesday. The firm’s 50 day moving average price is $9.73 and its 200-day moving average price is $10.27. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a 52-week low of $8.42 and a 52-week high of $12.43. The company has a market cap of $727.52 million, a P/E ratio of 24.29 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. During the same quarter in the previous year, the firm earned $0.48 EPS. On average, sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.68 EPS for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 16.00%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s payout ratio is currently 388.57%.

Insider Transactions at BlackRock TCP Capital

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

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.