BlackRock TCP Capital Corp (TCPC) Stake Boosted by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 38.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,900 shares of the investment management company’s stock after acquiring an additional 30,600 shares during the period. California Public Employees Retirement System’s holdings in BlackRock TCP Capital were worth $1,588,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new position in shares of BlackRock TCP Capital in the second quarter valued at approximately $145,000. Financial Counselors Inc. bought a new position in shares of BlackRock TCP Capital in the second quarter valued at approximately $201,000. Dynamic Technology Lab Private Ltd bought a new position in shares of BlackRock TCP Capital in the second quarter valued at approximately $290,000. TCW Group Inc. grew its holdings in shares of BlackRock TCP Capital by 16.7% in the second quarter. TCW Group Inc. now owns 35,000 shares of the investment management company’s stock valued at $506,000 after acquiring an additional 5,000 shares in the last quarter. Finally, BlueMountain Capital Management LLC grew its holdings in shares of BlackRock TCP Capital by 38.0% in the second quarter. BlueMountain Capital Management LLC now owns 45,258 shares of the investment management company’s stock valued at $654,000 after acquiring an additional 12,453 shares in the last quarter. 48.21% of the stock is owned by institutional investors.

TCPC has been the subject of several research reports. BidaskClub lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. National Securities reissued a “buy” rating and set a $19.00 price objective on shares of BlackRock TCP Capital in a report on Monday, August 13th. JMP Securities reduced their price objective on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, August 28th. Wells Fargo & Co reduced their price objective on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, October 4th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $17.00 price objective on shares of BlackRock TCP Capital in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.92.

Shares of NASDAQ TCPC opened at $13.89 on Friday. BlackRock TCP Capital Corp has a 1-year low of $13.71 and a 1-year high of $16.25. The firm has a market cap of $816.52 million, a price-to-earnings ratio of 8.36, a PEG ratio of 1.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 6.38 and a quick ratio of 6.38.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. BlackRock TCP Capital had a return on equity of 11.22% and a net margin of 32.55%. The business had revenue of $48.42 million during the quarter, compared to analyst estimates of $47.46 million. Analysts anticipate that BlackRock TCP Capital Corp will post 1.57 earnings per share for the current year.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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Institutional Ownership by Quarter for BlackRock TCP Capital (NASDAQ:TCPC)

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