Raymond James & Associates Buys 51,766 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Raymond James & Associates grew its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,417 shares of the investment management company’s stock after purchasing an additional 51,766 shares during the quarter. Raymond James & Associates’ holdings in BlackRock TCP Capital were worth $3,374,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TCPC. Envestnet Asset Management Inc. raised its holdings in shares of BlackRock TCP Capital by 3.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,316 shares of the investment management company’s stock valued at $348,000 after purchasing an additional 810 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of BlackRock TCP Capital by 20.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 72,417 shares of the investment management company’s stock valued at $1,036,000 after purchasing an additional 12,147 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of BlackRock TCP Capital by 12.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 15,924 shares of the investment management company’s stock valued at $228,000 after purchasing an additional 1,807 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of BlackRock TCP Capital by 11.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 20,516 shares of the investment management company’s stock valued at $312,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Dakota Wealth Management bought a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at about $215,000.

Wall Street Analysts Forecast Growth

TCPC has been the subject of several recent research reports. JMP Securities restated a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Oppenheimer reaffirmed a “market perform” rating and issued a $11.00 price objective (down previously from $13.00) on shares of BlackRock TCP Capital in a research report on Wednesday, March 6th. Wells Fargo & Company lifted their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Raymond James downgraded shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, BlackRock TCP Capital presently has a consensus rating of “Hold” and a consensus price target of $11.25.

BlackRock TCP Capital Trading Down 1.7 %

NASDAQ:TCPC opened at $10.09 on Friday. BlackRock TCP Capital Corp. has a twelve month low of $9.61 and a twelve month high of $13.00. The company has a debt-to-equity ratio of 1.43, a current ratio of 30.47 and a quick ratio of 30.47. The company’s 50 day moving average is $10.60 and its two-hundred day moving average is $11.15.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. On average, sell-side analysts expect that BlackRock TCP Capital Corp. will post 1.73 EPS for the current fiscal year.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.48%. The ex-dividend date of this dividend was Wednesday, March 13th. BlackRock TCP Capital’s dividend payout ratio is presently 206.06%.

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.