Advisory Research Inc. cut its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 8.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 89,223 shares of the investment management company’s stock after selling 8,440 shares during the period. Advisory Research Inc. owned about 0.15% of BlackRock TCP Capital worth $1,234,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Advocates Investment Management bought a new stake in BlackRock TCP Capital in the 1st quarter valued at about $222,000. Trexquant Investment LP bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $114,000. Comerica Bank bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $121,000. Montag A & Associates Inc. bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $124,000. Finally, Cove Street Capital LLC bought a new stake in BlackRock TCP Capital in the 4th quarter valued at about $128,000. 30.53% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Oppenheimer reiterated a “buy” rating and issued a $14.00 price objective on shares of BlackRock TCP Capital in a research report on Friday, February 26th. Raymond James upgraded shares of BlackRock TCP Capital from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Friday, February 26th. TheStreet downgraded shares of BlackRock TCP Capital from a “b” rating to a “c+” rating in a research report on Wednesday, May 26th. Zacks Investment Research downgraded shares of BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. Finally, JMP Securities restated an “outperform” rating and set a $14.50 price target on shares of BlackRock TCP Capital in a research report on Wednesday, March 3rd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $14.13.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, May 4th. The investment management company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. BlackRock TCP Capital had a net margin of 102.51% and a return on equity of 10.66%. The company had revenue of $41.16 million for the quarter, compared to the consensus estimate of $40.20 million. As a group, sell-side analysts anticipate that BlackRock TCP Capital Corp. will post 1.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.11%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 83.92%.
BlackRock TCP Capital 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 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.
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