Advisors Asset Management Inc. Sells 8,713 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Advisors Asset Management Inc. lessened its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,247 shares of the investment management company’s stock after selling 8,713 shares during the period. Advisors Asset Management Inc. owned approximately 0.26% of BlackRock TCP Capital worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barings LLC boosted its stake in BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp increased its stake in BlackRock TCP Capital by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after purchasing an additional 143,667 shares during the period. Transcend Capital Advisors LLC lifted its position in BlackRock TCP Capital by 61.5% in the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of BlackRock TCP Capital by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after purchasing an additional 54,786 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of BlackRock TCP Capital by 7.6% in the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after purchasing an additional 33,147 shares during the last quarter.

Insider Transactions at BlackRock TCP Capital

In related news, Director Philip M. Tseng acquired 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. This represents a 57.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajneesh Vig bought 25,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This represents a 23.60 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 42,000 shares of company stock valued at $381,875 in the last three months. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TCPC. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company increased their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, 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 report on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $9.05 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital Corp. has a 1 year low of $7.71 and a 1 year high of $12.43. The company’s 50-day moving average is $8.39 and its 200 day moving average is $9.62. The stock has a market capitalization of $774.59 million, a P/E ratio of -18.10 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same period in the prior year, the company posted $0.49 EPS. On average, sell-side analysts expect that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.45%. The ex-dividend date is Tuesday, December 17th. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is -271.99%.

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.