Sumitomo Mitsui Trust Group Inc. Raises Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,432 shares of the investment management company’s stock after buying an additional 25,560 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BlackRock TCP Capital were worth $2,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avior Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter valued at about $38,000. McIlrath & Eck LLC purchased a new stake in BlackRock TCP Capital during the third quarter valued at about $46,000. Pathway Financial Advisers LLC raised its position in BlackRock TCP Capital by 729.0% during the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after purchasing an additional 6,379 shares in the last quarter. Quantbot Technologies LP purchased a new stake in BlackRock TCP Capital during the third quarter valued at about $79,000. Finally, MeadowBrook Investment Advisors LLC raised its position in BlackRock TCP Capital by 22.2% during the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 1,970 shares in the last quarter.

BlackRock TCP Capital Stock Up 0.9 %

Shares of NASDAQ:TCPC opened at $9.29 on Friday. The stock’s 50-day moving average price is $8.94 and its 200-day moving average price is $8.86. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $11.52. The stock has a market capitalization of $795.14 million, a P/E ratio of -18.58 and a beta of 1.50. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

Analyst Ratings Changes

A number of research firms have weighed in on TCPC. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus price target of $9.00.

Insider Activity

In related news, President Jason Mehring acquired 4,500 shares of BlackRock TCP Capital stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now owns 19,914 shares of the company’s stock, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Company 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.