Ignite Planners LLC Sells 62,958 Shares of Blackrock Tcp Capital Corp. $TCPC

Ignite Planners LLC lessened its holdings in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 66.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 31,808 shares of the investment management company’s stock after selling 62,958 shares during the period. Ignite Planners LLC’s holdings in Blackrock Tcp Capital were worth $245,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TCPC. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Blackrock Tcp Capital by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock valued at $91,000 after buying an additional 1,352 shares during the period. VSM Wealth Advisory LLC grew its holdings in shares of Blackrock Tcp Capital by 15.9% in the 1st 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 period. Mallini Complete Financial Planning LLC grew its holdings in shares of Blackrock Tcp Capital by 9.6% in the 1st quarter. Mallini Complete Financial Planning LLC now owns 22,505 shares of the investment management company’s stock valued at $180,000 after buying an additional 1,971 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Blackrock Tcp Capital by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock valued at $82,000 after buying an additional 2,200 shares during the period. Finally, Arkadios Wealth Advisors boosted its stake in Blackrock Tcp Capital by 2.9% in the 1st quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company’s stock worth $773,000 after purchasing an additional 2,687 shares during the period.

Blackrock Tcp Capital Stock Down 2.9%

Shares of NASDAQ TCPC opened at $5.67 on Thursday. The stock has a market capitalization of $482.15 million, a P/E ratio of -33.35 and a beta of 1.04. The company has a 50-day moving average price of $6.82 and a 200-day moving average price of $7.23. Blackrock Tcp Capital Corp. has a 1 year low of $5.67 and a 1 year high of $9.72. The company has a debt-to-equity ratio of 1.59, a current ratio of 14.06 and a quick ratio of 14.07.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share 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 for the quarter, compared to analysts’ expectations of $56.16 million. On average, equities research analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 17.6%. Blackrock Tcp Capital’s payout ratio is -588.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on TCPC. Weiss Ratings reissued a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Wednesday. Wall Street Zen cut shares of Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $6.00 target price (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $6.75.

Blackrock Tcp Capital 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.