Commonwealth Equity Services LLC Has $536,000 Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Commonwealth Equity Services LLC boosted its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 171.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,590 shares of the investment management company’s stock after acquiring an additional 31,321 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of BlackRock TCP Capital worth $536,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TCPC. Jump Financial LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter worth approximately $198,000. PNC Financial Services Group Inc. lifted its holdings in shares of BlackRock TCP Capital by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock valued at $432,000 after acquiring an additional 1,200 shares during the period. CreativeOne Wealth LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at $118,000. Cape Investment Advisory Inc. bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $74,000. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of BlackRock TCP Capital by 25.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 134,040 shares of the investment management company’s stock worth $1,547,000 after purchasing an additional 26,863 shares in the last quarter.

Insider Buying and Selling at BlackRock TCP Capital

In related news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares in the company, valued at $158,552.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 42,000 shares of company stock worth $381,875. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BlackRock TCP Capital Stock Down 1.7 %

Shares of TCPC opened at $8.32 on Friday. The firm has a market capitalization of $712.12 million, a price-to-earnings ratio of 23.77 and a beta of 1.48. BlackRock TCP Capital Corp. has a 52 week low of $8.26 and a 52 week high of $12.43. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The business’s fifty day moving average price is $9.58 and its two-hundred day moving average price is $10.23.

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

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 16.35%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is presently 388.57%.

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.