Blackrock Tcp Capital Corp. $TCPC is Next Capital Management LLC’s 9th Largest Position

Next Capital Management LLC increased its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 2,131.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,134,826 shares of the investment management company’s stock after purchasing an additional 1,083,968 shares during the period. Blackrock Tcp Capital accounts for about 3.2% of Next Capital Management LLC’s holdings, making the stock its 9th biggest holding. Next Capital Management LLC’s holdings in Blackrock Tcp Capital were worth $8,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TCPC. PNC Financial Services Group Inc. lifted 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 purchasing an additional 2,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Blackrock Tcp Capital in the 1st quarter valued at about $83,000. VSM Wealth Advisory LLC lifted 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 purchasing an additional 1,537 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Blackrock Tcp Capital in the 2nd quarter valued at about $114,000. Finally, WealthTrust Axiom LLC acquired a new position in Blackrock Tcp Capital in the 1st quarter valued at about $120,000.

Blackrock Tcp Capital Stock Performance

NASDAQ TCPC opened at $5.63 on Tuesday. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $6.32 and its two-hundred day moving average is $7.04. Blackrock Tcp Capital Corp. has a 12-month low of $5.39 and a 12-month high of $9.72. The stock has a market capitalization of $478.75 million, a price-to-earnings ratio of -33.12 and a beta of 1.04.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share (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 business had revenue of $51.47 million for the quarter, compared to analyst estimates of $56.16 million. Research analysts expect that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm 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. The ex-dividend date was Tuesday, September 16th. This represents a $1.00 annualized dividend and a yield of 17.8%. Blackrock Tcp Capital’s payout ratio is presently -588.24%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TCPC. Wells Fargo & Company restated an “underweight” rating and issued a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. Weiss Ratings restated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday. One 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 company presently has an average 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.