Corient Private Wealth LLC Buys New Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Corient Private Wealth LLC purchased a new stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,118 shares of the investment management company’s stock, valued at approximately $149,000.

Several other large investors have also bought and sold shares of TCPC. Columbus Macro LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at about $4,177,000. Jane Street Group LLC grew its position in BlackRock TCP Capital by 189.3% in the 3rd quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock worth $302,000 after purchasing an additional 23,857 shares in the last quarter. GraniteShares Advisors LLC bought a new stake in BlackRock TCP Capital in the 4th quarter worth about $2,453,000. EP Wealth Advisors LLC purchased a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $526,000. Finally, Paloma Partners Management Co bought a new position in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $608,000.

Analyst Upgrades and Downgrades

TCPC has been the subject of several recent analyst reports. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.67.

Insider Activity

In other BlackRock TCP Capital news, CEO Philip M. Tseng purchased 10,000 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Patrick Wolfe purchased 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This represents a 320.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,500 shares of company stock valued at $146,444 in the last 90 days. Insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Trading Up 0.5 %

Shares of TCPC stock opened at $8.05 on Wednesday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a market cap of $684.87 million, a P/E ratio of -16.10 and a beta of 1.55. The company has a 50 day moving average of $8.66 and a 200-day moving average of $8.64. BlackRock TCP Capital Corp. has a 12-month low of $7.67 and a 12-month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.42%. BlackRock TCP Capital’s payout ratio is presently -133.33%.

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.