UBS Group AG Acquires 128,687 Shares of Blackrock Tcp Capital Corp. $TCPC

UBS Group AG lifted its holdings in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,571,451 shares of the investment management company’s stock after acquiring an additional 128,687 shares during the period. UBS Group AG owned 1.85% of Blackrock Tcp Capital worth $8,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TCPC. Jones Financial Companies Lllp boosted its stake in shares of Blackrock Tcp Capital by 5,349.6% in the first quarter. Jones Financial Companies Lllp now owns 93,461 shares of the investment management company’s stock worth $749,000 after acquiring an additional 91,746 shares during the period. Creative Planning bought a new position in shares of Blackrock Tcp Capital in the second quarter worth about $85,000. XTX Topco Ltd bought a new position in shares of Blackrock Tcp Capital in the second quarter worth about $166,000. Marshall Wace LLP bought a new position in shares of Blackrock Tcp Capital in the second quarter worth about $4,045,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Blackrock Tcp Capital by 7.7% in the second quarter. Raymond James Financial Inc. now owns 90,675 shares of the investment management company’s stock worth $698,000 after acquiring an additional 6,509 shares during the period.

Blackrock Tcp Capital Stock Performance

Shares of TCPC stock opened at $4.15 on Monday. Blackrock Tcp Capital Corp. has a 1 year low of $3.43 and a 1 year high of $8.06. The company has a debt-to-equity ratio of 1.64, a current ratio of 21.44 and a quick ratio of 21.44. The stock’s 50 day simple moving average is $3.93 and its two-hundred day simple moving average is $4.90. The company has a market cap of $348.19 million, a PE ratio of -2.79 and a beta of 0.98.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%.The business had revenue of $42.58 million for the quarter, compared to the consensus estimate of $40.10 million. Research analysts predict that Blackrock Tcp Capital Corp. will post 0.83 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.68 dividend on an annualized basis and a yield of 16.4%. Blackrock Tcp Capital’s dividend payout ratio is -45.64%.

Insider Transactions at Blackrock Tcp Capital

In related news, COO Patrick Wolfe acquired 6,850 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $3.65 per share, for a total transaction of $25,002.50. Following the completion of the transaction, the chief operating officer directly owned 16,086 shares in the company, valued at approximately $58,713.90. This trade represents a 74.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TCPC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $3.50 price objective (down from $7.00) on shares of Blackrock Tcp Capital in a research note on Tuesday, March 3rd. Zacks Research lowered Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wells Fargo & Company dropped their price target on Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Finally, Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $3.50.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.