Corient Private Wealth LLC Makes New $149,000 Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Corient Private Wealth LLC purchased a new stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,118 shares of the investment management company’s stock, valued at approximately $149,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TCPC. Columbus Macro LLC bought a new stake in BlackRock TCP Capital in the fourth quarter valued at approximately $4,177,000. GraniteShares Advisors LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at $2,453,000. Transcend Capital Advisors LLC increased its position in shares of BlackRock TCP Capital by 17.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock worth $12,477,000 after buying an additional 209,898 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $886,000. Finally, Van ECK Associates Corp raised its stake in BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock worth $19,186,000 after buying an additional 95,603 shares during the last quarter.

Insider Buying and Selling

In other BlackRock TCP Capital news, COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Philip M. Tseng acquired 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 18,500 shares of company stock valued at $146,444. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TCPC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, February 28th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and an average price target of $8.67.

BlackRock TCP Capital Trading Up 0.5 %

TCPC opened at $8.05 on Wednesday. The company has a fifty day moving average price of $8.66 and a two-hundred day moving average price of $8.64. BlackRock TCP Capital Corp. has a 1-year low of $7.67 and a 1-year high of $11.52. The company has a market cap of $684.87 million, a P/E ratio of -16.10 and a beta of 1.55. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.42%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s payout ratio is -133.33%.

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.