GraniteShares Advisors LLC Boosts Holdings in Blackrock Tcp Capital Corp. $TCPC

GraniteShares Advisors LLC increased its stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 6.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 319,833 shares of the investment management company’s stock after purchasing an additional 19,987 shares during the quarter. GraniteShares Advisors LLC’s holdings in Blackrock Tcp Capital were worth $2,463,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new stake in shares of Blackrock Tcp Capital during the first quarter worth about $81,000. PNC Financial Services Group Inc. grew its stake in Blackrock Tcp Capital by 27.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock worth $82,000 after buying an additional 2,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Blackrock Tcp Capital during the first quarter worth approximately $83,000. VSM Wealth Advisory LLC lifted its stake in Blackrock Tcp Capital by 15.9% in the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company’s stock valued at $90,000 after buying an additional 1,537 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Blackrock Tcp Capital in the first quarter valued at approximately $111,000.

Blackrock Tcp Capital Stock Performance

Shares of TCPC opened at $6.24 on Monday. The stock has a market capitalization of $530.65 million, a P/E ratio of -36.71 and a beta of 1.04. The company has a debt-to-equity ratio of 1.59, a quick ratio of 14.07 and a current ratio of 14.06. Blackrock Tcp Capital Corp. has a 1 year low of $6.18 and a 1 year high of $9.72. The company’s fifty day moving average is $7.06 and its two-hundred day moving average is $7.33.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The firm had revenue of $51.47 million during the quarter, compared to analyst estimates of $56.16 million. On average, sell-side analysts predict that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 16.0%. Blackrock Tcp Capital’s payout ratio is -588.24%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TCPC. Wall Street Zen downgraded shares of Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Wells Fargo & Company restated an “underweight” rating and issued a $6.00 price objective (down from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Blackrock Tcp Capital currently has an average rating of “Reduce” and an average price target of $6.75.

About Blackrock Tcp Capital

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.