BlackRock TCP Capital Corp. (NASDAQ:TCPC) Holdings Trimmed by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 20.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,528 shares of the investment management company’s stock after selling 3,200 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in BlackRock TCP Capital were worth $104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital in the third quarter valued at $25,000. Sanctuary Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the second quarter valued at $119,000. Insigneo Advisory Services LLC acquired a new position in shares of BlackRock TCP Capital in the 2nd quarter valued at $122,000. Disciplined Investments LLC purchased a new position in BlackRock TCP Capital in the 2nd quarter worth about $108,000. Finally, Barings LLC raised its holdings in BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after buying an additional 17,053,151 shares during the period.

BlackRock TCP Capital Trading Up 1.0 %

NASDAQ TCPC opened at $8.30 on Friday. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a 1-year low of $8.02 and a 1-year high of $12.43. The firm’s fifty day simple moving average is $8.65 and its 200-day simple moving average is $9.92. The company has a market capitalization of $710.41 million, a PE ratio of 23.71 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $71.53 million during the quarter, compared to the consensus estimate 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 last year, the business earned $0.48 EPS. As a group, sell-side analysts anticipate that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 16.39%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is 388.57%.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Rajneesh Vig acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired 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 owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip M. Tseng bought 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now directly owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock worth $381,875 in the last 90 days. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TCPC. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. 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 note on Thursday, August 8th. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $8.50 to $8.00 in a report on Monday, August 26th. 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.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and an average price target of $9.00.

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.