Commonwealth Equity Services LLC Purchases 9,788 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Commonwealth Equity Services LLC increased its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,243 shares of the investment management company’s stock after purchasing an additional 9,788 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.08% of BlackRock TCP Capital worth $586,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TCPC. Barings LLC grew its position in shares of BlackRock TCP Capital by 5.0% during the 4th quarter. Barings LLC now owns 480,322 shares of the investment management company’s stock worth $4,184,000 after buying an additional 22,675 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in BlackRock TCP Capital in the fourth quarter worth about $886,000. Verdence Capital Advisors LLC grew its holdings in BlackRock TCP Capital by 43.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 17,350 shares of the investment management company’s stock worth $151,000 after acquiring an additional 5,250 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of BlackRock TCP Capital by 14.6% in the 4th quarter. Verus Capital Partners LLC now owns 54,214 shares of the investment management company’s stock valued at $472,000 after purchasing an additional 6,910 shares in the last quarter. Finally, Muzinich & Co. Inc. lifted its position in shares of BlackRock TCP Capital by 11.8% in the 4th quarter. Muzinich & Co. Inc. now owns 241,464 shares of the investment management company’s stock worth $2,103,000 after purchasing an additional 25,560 shares during the period.

Analyst Upgrades and Downgrades

TCPC has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $7.08 on Friday. The company has a 50 day moving average of $8.56 and a two-hundred day moving average of $8.62. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a twelve month low of $7.07 and a twelve month high of $11.52. The company has a market cap of $602.35 million, a price-to-earnings ratio of -14.16 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The firm 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 of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 14.12%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -133.33%.

Insider Buying and Selling

In related news, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $8.12 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $7.74 per share, for a total transaction 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. Insiders have acquired a total of 18,500 shares of company stock worth $146,444 in the last ninety days. 0.16% of the stock is owned by insiders.

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.