SteelPeak Wealth LLC Buys New Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

SteelPeak Wealth LLC purchased a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the first quarter, Holdings Channel.com reports. The fund purchased 10,000 shares of the investment management company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also made changes to their positions in TCPC. Spire Wealth Management raised its holdings in shares of BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after purchasing an additional 1,730 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of BlackRock TCP Capital in the first quarter valued at $4,172,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of BlackRock TCP Capital by 16.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock valued at $2,174,000 after buying an additional 27,105 shares in the last quarter. Raymond James & Associates lifted its position in shares of BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after acquiring an additional 51,766 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital during the 1st quarter worth $31,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 25th. Oppenheimer reduced their price objective on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.67.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $10.85 on Tuesday. The stock’s fifty day simple moving average is $10.75 and its 200-day simple moving average is $10.89. The company has a market capitalization of $928.65 million, a price-to-earnings ratio of 31.00 and a beta of 1.49. 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 1-year low of $9.90 and a 1-year 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, hitting analysts’ consensus estimates 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 firm earned $0.44 earnings per share. On average, sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 12.53%. The ex-dividend date of this dividend was Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio is currently 388.58%.

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.