101,682 Shares in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 101,682 shares of the investment management company’s stock, valued at approximately $886,000. Raymond James Financial Inc. owned approximately 0.12% of BlackRock TCP Capital at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TCPC. Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth approximately $79,000. Centiva Capital LP bought a new stake in BlackRock TCP Capital in the third quarter worth $258,000. Jane Street Group LLC grew its position in BlackRock TCP Capital by 189.3% during the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock valued at $302,000 after purchasing an additional 23,857 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of BlackRock TCP Capital during the third quarter valued at approximately $526,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of BlackRock TCP Capital by 190.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company’s stock worth $589,000 after purchasing an additional 46,595 shares in the last quarter.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock opened at $7.08 on Friday. BlackRock TCP Capital Corp. has a 52 week low of $7.07 and a 52 week high of $11.52. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $602.35 million, a price-to-earnings ratio of -14.16 and a beta of 1.55. The stock’s 50-day simple moving average is $8.56 and its 200-day simple moving average is $8.62.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 14.12%. BlackRock TCP Capital’s payout ratio is -133.33%.

Insider Activity

In other news, COO Patrick Wolfe purchased 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $8.12 per share, with a total value of $49,532.00. Following the purchase, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock worth $146,444 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Friday. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company decreased their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

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.