Romano Brothers AND Company Raises Stock Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Romano Brothers AND Company lifted its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 522.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,645 shares of the investment management company’s stock after buying an additional 73,570 shares during the quarter. Romano Brothers AND Company’s holdings in BlackRock TCP Capital were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TCPC. Tower Research Capital LLC TRC raised its position in BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the last quarter. Transce3nd LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter valued at $70,000. VSM Wealth Advisory LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter valued at $84,000. Entropy Technologies LP purchased a new stake in BlackRock TCP Capital in the 4th quarter valued at $115,000. Finally, Merit Financial Group LLC acquired a new position in BlackRock TCP Capital in the 1st quarter valued at $111,000.

BlackRock TCP Capital Trading Down 0.1%

Shares of TCPC stock opened at $7.81 on Wednesday. The firm has a market cap of $664.15 million, a P/E ratio of -15.62 and a beta of 1.03. BlackRock TCP Capital Corp. has a 1-year low of $6.27 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $8.27.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $55.89 million for the quarter, compared to analyst estimates of $57.95 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. As a group, equities analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.80%. The ex-dividend date of this dividend is Monday, June 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -172.41%.

Insider Buying and Selling

In other BlackRock TCP Capital news, CEO Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased 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 owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $8.12 per share, with a total value of $49,532.00. Following the transaction, 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 disclosure for this purchase can be found here. In the last quarter, insiders acquired 18,500 shares of company stock valued at $146,444. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on TCPC shares. Wall Street Zen cut shares of BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a research note on Monday, April 28th.

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.