Raymond James & Associates Grows Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Raymond James & Associates increased its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 322,962 shares of the investment management company’s stock after purchasing an additional 20,888 shares during the period. Raymond James & Associates owned approximately 0.38% of BlackRock TCP Capital worth $3,488,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TCPC. International Assets Investment Management LLC boosted its stake in shares of BlackRock TCP Capital by 1,054.0% during the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after purchasing an additional 376,278 shares during the period. Spire Wealth Management boosted its stake in shares of BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after purchasing an additional 1,730 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $79,000. Jump Financial LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $198,000. Finally, PNC Financial Services Group Inc. boosted its position in BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock valued at $432,000 after buying an additional 1,200 shares during the period.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $9.17 on Friday. The company has a 50 day moving average price of $10.12 and a 200-day moving average price of $10.44. BlackRock TCP Capital Corp. has a fifty-two week low of $8.59 and a fifty-two week high of $12.59. The stock has a market capitalization of $784.86 million, a PE ratio of 26.20 and a beta of 1.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced 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 negative net margin of 20.11% and a positive return on equity of 14.42%. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. During the same quarter in the prior year, the company earned $0.48 EPS. Equities analysts predict that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 14.83%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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. Wells Fargo & Company cut shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $8.50 to $8.00 in a research report on Monday, August 26th. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. 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 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.