Future Financial Wealth Managment LLC Takes $31,000 Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Future Financial Wealth Managment LLC acquired a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the 1st quarter, Holdings Channel reports. The firm acquired 3,000 shares of the investment management company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TCPC. Van ECK Associates Corp raised its holdings in BlackRock TCP Capital by 10.6% in the 4th quarter. Van ECK Associates Corp now owns 1,059,142 shares of the investment management company’s stock valued at $12,222,000 after acquiring an additional 101,513 shares during the period. International Assets Investment Management LLC increased its stake in shares of BlackRock TCP Capital by 1,054.0% during the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after purchasing an additional 376,278 shares during the period. Confluence Investment Management LLC acquired a new stake in BlackRock TCP Capital during the 1st quarter worth approximately $4,172,000. D.A. Davidson & CO. boosted its stake in BlackRock TCP Capital by 10.3% in the 4th quarter. D.A. Davidson & CO. now owns 382,617 shares of the investment management company’s stock valued at $4,415,000 after purchasing an additional 35,753 shares during the period. Finally, Raymond James & Associates grew its holdings in BlackRock TCP Capital by 21.5% in the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after buying an additional 51,766 shares in the last quarter.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of analyst reports. Raymond James downgraded shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Oppenheimer cut their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $10.67.

BlackRock TCP Capital Stock Up 2.5 %

Shares of NASDAQ TCPC opened at $10.84 on Friday. The business has a 50-day moving average of $10.72 and a 200-day moving average of $10.93. The firm has a market capitalization of $927.80 million, a price-to-earnings ratio of 30.97 and a beta of 1.47. The company has a current ratio of 19.05, a quick ratio of 19.05 and a debt-to-equity ratio of 1.37. BlackRock TCP Capital Corp. has a 12 month low of $9.90 and a 12 month high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. The business had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. During the same period in the prior year, the business posted $0.44 earnings per share. Sell-side analysts expect that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.34 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.36 annualized dividend and a yield of 12.55%. BlackRock TCP Capital’s payout ratio is 388.58%.

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.