Next Capital Management LLC Has $302,000 Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Next Capital Management LLC cut its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 60.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,945 shares of the investment management company’s stock after selling 42,667 shares during the period. Next Capital Management LLC’s holdings in BlackRock TCP Capital were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCPC. PNC Financial Services Group Inc. grew its stake in shares of 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 in the last quarter. Register Financial Advisors LLC acquired a new stake in BlackRock TCP Capital in the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new stake in BlackRock TCP Capital during the 1st quarter worth about $31,000. LSV Asset Management lifted its position in BlackRock TCP Capital by 1.1% during the 1st quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock worth $2,935,000 after buying an additional 3,147 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in shares of 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 buying an additional 4,000 shares during the last quarter.

Analysts Set New Price Targets

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

Insider Transactions at BlackRock TCP Capital

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

BlackRock TCP Capital Trading Down 0.5 %

Shares of BlackRock TCP Capital stock opened at $8.29 on Tuesday. BlackRock TCP Capital Corp. has a 1 year low of $8.03 and a 1 year high of $12.43. The company has a market capitalization of $709.54 million, a price-to-earnings ratio of 23.69 and a beta of 1.48. The business has a fifty day simple moving average of $9.22 and a two-hundred day simple moving average of $10.11. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results 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 company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. During the same quarter last year, the company posted $0.48 EPS. Research analysts forecast that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 16.41%. The ex-dividend date was Monday, September 16th. BlackRock TCP Capital’s payout ratio is 388.58%.

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.