Blackrock Tcp Capital Corp. $TCPC Shares Purchased by Next Capital Management LLC

Next Capital Management LLC boosted its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,683,539 shares of the investment management company’s stock after purchasing an additional 282,123 shares during the period. Blackrock Tcp Capital makes up about 4.7% of Next Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Next Capital Management LLC owned approximately 3.16% of Blackrock Tcp Capital worth $14,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in Blackrock Tcp Capital by 5.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,288,755 shares of the investment management company’s stock valued at $14,191,000 after purchasing an additional 110,040 shares in the last quarter. Invesco Ltd. grew its stake in shares of Blackrock Tcp Capital by 36.8% during the third quarter. Invesco Ltd. now owns 1,947,348 shares of the investment management company’s stock valued at $12,074,000 after acquiring an additional 524,139 shares in the last quarter. UBS Group AG grew its stake in shares of Blackrock Tcp Capital by 8.9% during the fourth quarter. UBS Group AG now owns 1,571,451 shares of the investment management company’s stock valued at $8,596,000 after acquiring an additional 128,687 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Blackrock Tcp Capital by 22.8% during the third quarter. Two Sigma Investments LP now owns 874,972 shares of the investment management company’s stock valued at $5,425,000 after acquiring an additional 162,651 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Blackrock Tcp Capital during the second quarter valued at about $4,045,000.

Blackrock Tcp Capital Stock Performance

Shares of NASDAQ TCPC opened at $3.68 on Monday. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.64. The firm’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $4.70. Blackrock Tcp Capital Corp. has a 52-week low of $3.43 and a 52-week high of $8.06. The stock has a market capitalization of $308.75 million, a P/E ratio of -2.47 and a beta of 0.93.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, May 7th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Blackrock Tcp Capital had a negative net margin of 66.92% and a positive return on equity of 14.30%. The firm had revenue of $42.58 million for the quarter, compared to analysts’ expectations of $40.10 million. As a group, sell-side analysts forecast that Blackrock Tcp Capital Corp. will post 0.83 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.68 dividend on an annualized basis and a yield of 18.5%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is currently -45.64%.

Insider Transactions at Blackrock Tcp Capital

In other Blackrock Tcp Capital news, COO Patrick Wolfe bought 6,850 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $3.65 per share, with a total value of $25,002.50. Following the completion of the acquisition, the chief operating officer directly owned 16,086 shares of the company’s stock, valued at approximately $58,713.90. The trade was a 74.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $3.50 target price (down from $7.00) on shares of Blackrock Tcp Capital in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and an average price target of $3.50.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.