Hennion & Walsh Asset Management Inc. Cuts Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Hennion & Walsh Asset Management Inc. lowered its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,685 shares of the investment management company’s stock after selling 26,225 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.56% of BlackRock TCP Capital worth $3,960,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of BlackRock TCP Capital by 3.3% in the fourth 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 in the last quarter. Register Financial Advisors LLC purchased a new stake in BlackRock TCP Capital during the first quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new stake in BlackRock TCP Capital during the 1st quarter worth approximately $31,000. LSV Asset Management raised its stake in shares of BlackRock TCP Capital by 1.1% in the 1st 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. Finally, International Assets Investment Management LLC acquired a new position in shares of BlackRock TCP Capital during the second quarter worth about $60,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TCPC shares. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.50 to $8.00 in a research report on Monday, August 26th. Finally, LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

Insider Buying and Selling

In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 5,000 shares of the 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 purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Philip M. Tseng purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the purchase, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 42,000 shares of company stock valued at $381,875. Company insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Stock Up 2.1 %

Shares of TCPC opened at $8.36 on Friday. The company has a 50-day simple moving average of $8.61 and a 200-day simple moving average of $9.87. 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 Corp. has a 52 week low of $8.02 and a 52 week high of $12.43. The firm has a market capitalization of $715.53 million, a P/E ratio of -15.77 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $70.39 million. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities research analysts expect that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 16.27%. The ex-dividend date was Monday, September 16th. BlackRock TCP Capital’s 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.