BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Investors Research Corp

Investors Research Corp lessened its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 41.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,471 shares of the investment management company’s stock after selling 2,500 shares during the quarter. Investors Research Corp’s holdings in BlackRock TCP Capital were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. MQS Management LLC purchased a new stake in shares of BlackRock TCP Capital during the first quarter worth about $120,000. CreativeOne Wealth LLC boosted its position in shares of BlackRock TCP Capital by 212.1% in the first quarter. CreativeOne Wealth LLC now owns 31,803 shares of the investment management company’s stock worth $332,000 after buying an additional 21,614 shares during the period. Advisors Asset Management Inc. lifted its position in BlackRock TCP Capital by 5.9% during the 1st quarter. Advisors Asset Management Inc. now owns 215,206 shares of the investment management company’s stock worth $2,245,000 after acquiring an additional 11,987 shares in the last quarter. Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital during the 1st quarter valued at $357,000. Finally, Caxton Associates LP lifted its holdings in BlackRock TCP Capital by 51.6% in the 1st quarter. Caxton Associates LP now owns 46,720 shares of the investment management company’s stock worth $487,000 after buying an additional 15,911 shares in the last quarter.

Insider Buying and Selling

In other news, Director Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. The trade was a 57.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajneesh Vig bought 25,000 shares of the stock in a transaction on Thursday, August 29th. The shares were acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 23.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 42,000 shares of company stock valued at $381,875 over the last 90 days. Company insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Trading Up 0.6 %

TCPC opened at $9.01 on Friday. The firm’s fifty day simple moving average is $8.39 and its 200 day simple moving average is $9.65. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $771.30 million, a P/E ratio of -18.02 and a beta of 1.47. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same period in the previous year, the firm posted $0.49 EPS. As a group, research analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a yield of 19.53%. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -271.99%.

Analysts Set New Price Targets

Several research firms have issued reports on TCPC. Keefe, Bruyette & Woods dropped 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. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $9.00.

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.