Mackenzie Financial Corp Decreases Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Mackenzie Financial Corp lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPCGet Rating) by 37.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,601 shares of the investment management company’s stock after selling 35,015 shares during the quarter. Mackenzie Financial Corp’s holdings in BlackRock TCP Capital were worth $734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TCPC. Oppenheimer & Co. Inc. lifted its position in shares of BlackRock TCP Capital by 25.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 89,526 shares of the investment management company’s stock valued at $1,122,000 after buying an additional 18,033 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BlackRock TCP Capital by 8.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,254 shares of the investment management company’s stock valued at $128,000 after buying an additional 800 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of BlackRock TCP Capital by 14.5% during the 2nd quarter. AE Wealth Management LLC now owns 35,572 shares of the investment management company’s stock valued at $446,000 after buying an additional 4,495 shares in the last quarter. Coulter & Justus Financial Services LLC purchased a new position in shares of BlackRock TCP Capital during the 2nd quarter valued at approximately $160,000. Finally, Walker Asset Management LLC purchased a new position in shares of BlackRock TCP Capital during the 2nd quarter valued at approximately $2,102,000. Institutional investors and hedge funds own 24.89% of the company’s stock.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $13.53 on Friday. The stock has a fifty day simple moving average of $12.11 and a two-hundred day simple moving average of $12.80. The company has a quick ratio of 37.97, a current ratio of 37.97 and a debt-to-equity ratio of 1.21. BlackRock TCP Capital Corp. has a 52-week low of $10.65 and a 52-week high of $14.52.

BlackRock TCP Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 9.46%. The ex-dividend date of this dividend is Thursday, December 15th. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.30. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 97.56%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $11.50 to $12.00 and gave the company an “equal weight” rating in a report on Friday, November 4th. Raymond James decreased their price objective on BlackRock TCP Capital from $15.50 to $14.50 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Finally, StockNews.com assumed coverage on BlackRock TCP Capital in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

BlackRock TCP Capital Profile

(Get Rating)

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, 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.

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Institutional Ownership by Quarter for BlackRock TCP Capital (NASDAQ:TCPC)

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