International Assets Investment Management LLC Acquires 40,780 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

International Assets Investment Management LLC raised its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 729.0% during the third quarter, Holdings Channel reports. The institutional investor owned 46,374 shares of the investment management company’s stock after buying an additional 40,780 shares during the quarter. International Assets Investment Management LLC’s holdings in BlackRock TCP Capital were worth $3,840,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TCPC. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital during the 3rd quarter valued at about $25,000. Accel Wealth Management bought a new stake in BlackRock TCP Capital during the second quarter worth $108,000. Disciplined Investments LLC purchased a new stake in BlackRock TCP Capital in the 2nd quarter valued at $108,000. Catalina Capital Group LLC bought a new position in BlackRock TCP Capital during the 2nd quarter valued at $108,000. Finally, MQS Management LLC purchased a new position in BlackRock TCP Capital during the 1st quarter worth $120,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TCPC shares. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price 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 decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.83.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $8.00 on Friday. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. The business’s 50 day simple moving average is $8.50 and its 200 day simple moving average is $9.79. BlackRock TCP Capital Corp. has a 12 month low of $8.00 and a 12 month high of $12.43. The company has a market cap of $684.72 million, a price-to-earnings ratio of -15.09 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The company had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same quarter in the prior year, the company earned $0.48 EPS. Sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 17.00%. The ex-dividend date was Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -256.60%.

Insider Activity

In other BlackRock TCP Capital news, CEO Rajneesh Vig acquired 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip M. Tseng purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the acquisition, the director now owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock valued at $381,875 over the last quarter. Company insiders own 0.16% of the company’s stock.

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.