Tower Research Capital LLC TRC Grows Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Tower Research Capital LLC TRC raised its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 177.2% during the 4th quarter, Holdings Channel reports. The firm owned 5,488 shares of the investment management company’s stock after acquiring an additional 3,508 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BlackRock TCP Capital were worth $48,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC acquired a new stake in BlackRock TCP Capital in the fourth quarter valued at $38,000. Transce3nd LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at $70,000. VSM Wealth Advisory LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at $84,000. Entropy Technologies LP acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at $115,000. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of BlackRock TCP Capital by 18.8% during the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after acquiring an additional 2,350 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TCPC. Wells Fargo & Company decreased their price objective on BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 12th.

BlackRock TCP Capital Stock Up 3.2%

Shares of NASDAQ:TCPC opened at $7.43 on Tuesday. The stock’s 50-day moving average price is $7.30 and its two-hundred day moving average price is $8.34. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 12-month low of $6.27 and a 12-month high of $11.52. The firm has a market cap of $632.12 million, a price-to-earnings ratio of -14.86 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $55.89 million for the quarter, compared to the consensus estimate of $57.95 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. On average, research analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.46%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -172.41%.

Insider Transactions at BlackRock TCP Capital

In other news, CEO Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. This trade represents a 34.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Wolfe bought 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at approximately $64,984.36. This trade represents a 320.55% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 18,500 shares of company stock worth $146,444 in the last three months. 0.21% of the stock is currently owned by company insiders.

BlackRock TCP Capital Company 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.