Confluence Investment Management LLC Sells 232,551 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Confluence Investment Management LLC lessened its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 87.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,697 shares of the investment management company’s stock after selling 232,551 shares during the quarter. Confluence Investment Management LLC’s holdings in BlackRock TCP Capital were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TCPC. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of BlackRock TCP Capital by 51.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 85,514 shares of the investment management company’s stock worth $709,000 after purchasing an additional 29,209 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 7.3% during 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 acquiring an additional 143,667 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after acquiring an additional 6,379 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of BlackRock TCP Capital in the third quarter valued at $431,000. Finally, Arkadios Wealth Advisors increased its position in BlackRock TCP Capital by 32.6% in the third quarter. Arkadios Wealth Advisors now owns 102,477 shares of the investment management company’s stock worth $850,000 after purchasing an additional 25,193 shares during the last quarter.

Insider Transactions at BlackRock TCP Capital

In related news, Director Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Philip M. Tseng acquired 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost 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 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip M. Tseng bought 5,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 42,000 shares of company stock worth $381,875. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday. Keefe, Bruyette & Woods lowered their price target on shares of 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. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $8.66 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. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $12.43. The company has a market capitalization of $741.22 million, a price-to-earnings ratio of -17.32 and a beta of 1.47. The firm’s 50-day moving average is $8.43 and its 200 day moving average is $9.72.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.28%. The business had revenue of $70.93 million for 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. Research analysts predict that BlackRock TCP Capital Corp. will post 1.66 EPS 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 given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 20.32%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is -272.00%.

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.