BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Bought by MeadowBrook Investment Advisors LLC

by · The Cerbat Gem

MeadowBrook Investment Advisors LLC grew its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC – Free Report) by 22.2% during the 3rd quarter, Holdings Channel reports. The firm owned 10,853 shares of the investment management company’s stock after purchasing an additional 1,970 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in BlackRock TCP Capital were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in BlackRock TCP Capital in the 3rd quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital during the second quarter worth approximately $60,000. Pathway Financial Advisers LLC raised its stake in BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after purchasing an additional 6,379 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in BlackRock TCP Capital in the 3rd quarter valued at $100,000. Finally, Accel Wealth Management acquired a new stake in BlackRock TCP Capital during the 2nd quarter worth $108,000.

Insiders Place Their Bets

In other news, Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the purchase, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rajneesh Vig bought 25,000 shares of BlackRock TCP Capital stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock worth $381,875 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company boosted their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

Read Our Latest Stock Report on TCPC

BlackRock TCP Capital Trading Down 0.8 %

Shares of TCPC stock traded down $0.07 during trading on Thursday, hitting $8.80. 167,732 shares of the stock traded hands, compared to its average volume of 502,973. BlackRock TCP Capital Corp. has a 52-week low of $7.71 and a 52-week high of $12.43. The firm has a market capitalization of $753.19 million, a P/E ratio of -17.74 and a beta of 1.47. The firm’s fifty day moving average price is $8.40 and its 200-day moving average price is $9.70. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital (NASDAQ:TCPC – Get Free Report) last posted its earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, research analysts forecast that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.44 dividend. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 20.00%. BlackRock TCP Capital’s payout ratio is presently -271.99%.

BlackRock TCP Capital Profile

(Free Report)

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.

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