ExodusPoint Capital Management LP Takes $128,000 Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

ExodusPoint Capital Management LP bought a new position in BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 11,755 shares of the investment management company’s stock, valued at approximately $128,000.

A number of other institutional investors have also recently bought and sold shares of TCPC. Tower Research Capital LLC TRC raised its stake in BlackRock TCP Capital by 817.2% during the third quarter. Tower Research Capital LLC TRC now owns 3,201 shares of the investment management company’s stock worth $35,000 after purchasing an additional 2,852 shares during the period. Steward Partners Investment Advisory LLC increased its holdings 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 worth $128,000 after buying an additional 800 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of BlackRock TCP Capital in the 3rd quarter worth $115,000. Virtu Financial LLC acquired a new position in BlackRock TCP Capital in the third quarter valued at $123,000. Finally, Private Wealth Partners LLC purchased a new stake in BlackRock TCP Capital during the third quarter valued at about $131,000.

BlackRock TCP Capital Stock Performance

TCPC opened at $11.81 on Friday. The firm’s 50 day moving average is $12.92 and its 200-day moving average is $12.72. BlackRock TCP Capital Corp. has a 52-week low of $10.65 and a 52-week high of $14.52. The company has a current ratio of 18.88, a quick ratio of 37.97 and a debt-to-equity ratio of 1.26.

BlackRock TCP Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 10.84%. The ex-dividend date of this dividend is Thursday, March 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is -800.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TCPC. Oppenheimer reduced their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday. JMP Securities decreased their price objective on shares of BlackRock TCP Capital from $14.50 to $13.00 and set a “market outperform” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $13.50 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday. Raymond James reduced their target price on shares of BlackRock TCP Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on BlackRock TCP Capital from $12.50 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock TCP Capital currently has a consensus rating of “Moderate Buy” and an average target price of $12.40.

BlackRock TCP Capital Company Profile

(Get Rating)

TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.