11,815 Shares in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,815 shares of the investment management company’s stock, valued at approximately $119,000.

Several other institutional investors have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after purchasing an additional 1,200 shares during the period. Register Financial Advisors LLC purchased a new position in BlackRock TCP Capital during the first quarter worth $26,000. Future Financial Wealth Managment LLC purchased a new position in BlackRock TCP Capital during the first quarter worth $31,000. LSV Asset Management increased its position in BlackRock TCP Capital by 1.1% during the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after acquiring an additional 3,147 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital in the second quarter valued at $60,000.

Analyst Ratings Changes

A number of research firms recently commented on TCPC. 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 lowered BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Keefe, Bruyette & Woods reduced their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a 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 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 Stock Performance

Shares of NASDAQ:TCPC opened at $8.35 on Tuesday. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $714.68 million, a price-to-earnings ratio of -15.75 and a beta of 1.47. The firm has a 50 day moving average of $8.65 and a 200 day moving average of $9.92. BlackRock TCP Capital Corp. has a 52 week low of $8.02 and a 52 week high of $12.43.

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 for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. During the same period in the prior year, the business posted $0.48 EPS. On average, sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 16.29%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s payout ratio is currently -256.60%.

Insider Buying and Selling

In other news, Director Philip M. Tseng bought 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock TCP Capital news, CEO Rajneesh Vig bought 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip M. Tseng purchased 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 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 corporate insiders.

About BlackRock TCP Capital

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.