BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Ignite Planners LLC

Ignite Planners LLC decreased its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,466 shares of the investment management company’s stock after selling 7,910 shares during the period. Ignite Planners LLC owned approximately 0.08% of BlackRock TCP Capital worth $543,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TCPC. Barings LLC grew its stake in shares of BlackRock TCP Capital by 3,878.9% in the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp grew its stake in shares of BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Transcend Capital Advisors LLC grew its stake in shares of BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after buying an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of BlackRock TCP Capital by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after buying an additional 54,786 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after buying an additional 33,147 shares during the period.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC opened at $8.07 on Wednesday. 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 stock has a market capitalization of $690.71 million, a P/E ratio of 23.06 and a beta of 1.47. The company has a 50 day moving average price of $8.91 and a 200 day moving average price of $10.03. BlackRock TCP Capital Corp. has a fifty-two week low of $8.03 and a fifty-two week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate 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. Equities research analysts forecast that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 annualized dividend and a yield of 16.85%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. 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. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company cut shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $8.50 to $8.00 in a research report on Monday, August 26th. 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 for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.00.

Insider Buying and Selling at BlackRock TCP Capital

In other news, CEO Rajneesh Vig acquired 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 acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Rajneesh Vig purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased 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 trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip M. Tseng acquired 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now directly owns 17,481 shares in the company, valued at $158,552.67. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 42,000 shares of company stock valued at $381,875 in the last 90 days. Company 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.