Blackrock Tcp Capital Corp. $TCPC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 2.9% during the second quarter, HoldingsChannel reports. The firm owned 253,357 shares of the investment management company’s stock after selling 7,505 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Blackrock Tcp Capital were worth $1,951,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC increased its stake in Blackrock Tcp Capital by 25.0% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 20,000 shares of the investment management company’s stock valued at $154,000 after purchasing an additional 4,000 shares during the period. GraniteShares Advisors LLC increased its stake in Blackrock Tcp Capital by 6.7% in the second quarter. GraniteShares Advisors LLC now owns 319,833 shares of the investment management company’s stock valued at $2,463,000 after purchasing an additional 19,987 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Blackrock Tcp Capital in the second quarter valued at $822,000. Wealth Enhancement Advisory Services LLC increased its stake in Blackrock Tcp Capital by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,352 shares during the period. Finally, Caxton Associates LLP acquired a new position in Blackrock Tcp Capital in the first quarter valued at $419,000.

Blackrock Tcp Capital Price Performance

Shares of NASDAQ TCPC opened at $5.70 on Friday. The firm has a market capitalization of $484.73 million, a P/E ratio of -33.53 and a beta of 1.04. Blackrock Tcp Capital Corp. has a one year low of $5.39 and a one year high of $9.72. The company’s fifty day moving average is $6.37 and its two-hundred day moving average is $7.04. 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 (NASDAQ:TCPC) last issued 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 company had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $56.16 million. Analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 17.5%. The ex-dividend date was Tuesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio is presently -588.24%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Blackrock Tcp Capital from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $6.75.

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.