J.W. Cole Advisors Inc. Makes New Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

J.W. Cole Advisors Inc. acquired a new stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 52,043 shares of the investment management company’s stock, valued at approximately $431,000. J.W. Cole Advisors Inc. owned 0.06% of BlackRock TCP Capital at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TCPC. Access Investment Management LLC bought a new stake in BlackRock TCP Capital in the 1st quarter valued at $566,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in BlackRock TCP Capital by 87.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock valued at $1,930,000 after acquiring an additional 86,215 shares during the period. LSV Asset Management increased its stake in BlackRock TCP Capital by 1.1% in the first quarter. LSV Asset Management now owns 281,447 shares of the investment management company’s stock valued at $2,935,000 after acquiring an additional 3,147 shares during the period. Oppenheimer & Co. Inc. raised its position in BlackRock TCP Capital by 26.4% in the first quarter. Oppenheimer & Co. Inc. now owns 198,345 shares of the investment management company’s stock worth $2,069,000 after purchasing an additional 41,454 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in BlackRock TCP Capital during the first quarter worth about $134,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TCPC shares. Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.83.

Insider Buying and Selling

In other news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the transaction, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BlackRock TCP Capital news, CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip M. Tseng purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 42,000 shares of company stock worth $381,875 in the last quarter. Insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $8.02 on Friday. BlackRock TCP Capital Corp. has a 52 week low of $8.01 and a 52 week high of $12.43. The firm has a market cap of $686.44 million, a P/E ratio of -15.13 and a beta of 1.47. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The business’s fifty day moving average is $8.55 and its two-hundred day moving average is $9.82.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the prior year, the company earned $0.48 EPS. Equities research analysts forecast that BlackRock TCP Capital Corp. will post 1.66 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 Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 16.96%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is currently -256.60%.

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.