BlackRock TCP Capital Corp. (NASDAQ:TCPC) Position Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 170,478 shares of the investment management company’s stock after acquiring an additional 7,320 shares during the period. Rockefeller Capital Management L.P.’s holdings in BlackRock TCP Capital were worth $1,485,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in BlackRock TCP Capital in the fourth quarter valued at about $886,000. Columbus Macro LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at approximately $4,177,000. Jane Street Group LLC lifted its stake in BlackRock TCP Capital by 189.3% during the third 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 during the last quarter. Virtu Financial LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth $329,000. Finally, Samalin Investment Counsel LLC increased its stake in BlackRock TCP Capital by 68.0% during the fourth quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company’s stock valued at $922,000 after purchasing an additional 42,827 shares during the last quarter.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TCPC shares. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company cut their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.33.

BlackRock TCP Capital Stock Up 2.3 %

TCPC opened at $6.79 on Monday. The stock’s 50 day moving average price is $7.98 and its 200 day moving average price is $8.49. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The stock has a market cap of $577.67 million, a P/E ratio of -13.58 and a beta of 1.21. BlackRock TCP Capital Corp. has a 12 month low of $6.27 and a 12 month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.73%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is currently -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.