Wealthcare Advisory Partners LLC Takes Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Wealthcare Advisory Partners LLC purchased a new stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,838 shares of the investment management company’s stock, valued at approximately $176,000.

A number of other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 10.6% during the fourth quarter. Van ECK Associates Corp now owns 1,059,142 shares of the investment management company’s stock valued at $12,222,000 after buying an additional 101,513 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 valued at $4,754,000 after buying an additional 376,278 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the first quarter valued at approximately $4,172,000. D.A. Davidson & CO. raised its holdings in BlackRock TCP Capital by 10.3% during the fourth quarter. D.A. Davidson & CO. now owns 382,617 shares of the investment management company’s stock worth $4,415,000 after purchasing an additional 35,753 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in BlackRock TCP Capital by 21.5% during the fourth quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock worth $3,374,000 after purchasing an additional 51,766 shares in the last quarter.

BlackRock TCP Capital Trading Up 0.5 %

BlackRock TCP Capital stock opened at $10.85 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. The firm has a market cap of $928.65 million, a price-to-earnings ratio of 31.00 and a beta of 1.49. BlackRock TCP Capital Corp. has a 1 year low of $9.90 and a 1 year high of $13.00. The firm’s 50 day moving average price is $10.75 and its two-hundred day moving average price is $10.89.

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 the consensus estimate of $0.45. The firm had revenue of $55.73 million for the quarter, compared to analyst estimates of $50.99 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, research analysts predict that BlackRock TCP Capital Corp. will post 1.71 EPS for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TCPC shares. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Finally, Oppenheimer dropped their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, BlackRock TCP Capital has an average rating of “Hold” and an average price target of $10.67.

About BlackRock TCP Capital

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.