Next Capital Management LLC Acquires New Holdings in Blackrock Tcp Capital Corp. $TCPC

Next Capital Management LLC bought a new position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,130,285 shares of the investment management company’s stock, valued at approximately $10,518,000. Blackrock Tcp Capital comprises approximately 2.8% of Next Capital Management LLC’s investment portfolio, making the stock its 8th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Blackrock Tcp Capital by 22.0% in the fourth quarter. Invesco Ltd. now owns 2,375,549 shares of the investment management company’s stock worth $12,994,000 after buying an additional 428,201 shares during the last quarter. UBS Group AG grew its stake in Blackrock Tcp Capital by 8.9% in the 4th quarter. UBS Group AG now owns 1,571,451 shares of the investment management company’s stock valued at $8,596,000 after buying an additional 128,687 shares during the last quarter. Two Sigma Investments LP raised its holdings in Blackrock Tcp Capital by 22.8% in the 3rd quarter. Two Sigma Investments LP now owns 874,972 shares of the investment management company’s stock worth $5,425,000 after acquiring an additional 162,651 shares during the period. North Ground Capital raised its holdings in Blackrock Tcp Capital by 57.6% in the 4th quarter. North Ground Capital now owns 787,946 shares of the investment management company’s stock worth $4,310,000 after acquiring an additional 287,946 shares during the period. Finally, Barings LLC lifted its position in Blackrock Tcp Capital by 4.5% during the 1st quarter. Barings LLC now owns 564,991 shares of the investment management company’s stock worth $2,040,000 after acquiring an additional 24,376 shares during the last quarter.

Blackrock Tcp Capital Trading Down 3.1%

TCPC stock opened at $4.08 on Friday. Blackrock Tcp Capital Corp. has a 1-year low of $3.08 and a 1-year high of $7.28. The firm has a market cap of $342.31 million, a P/E ratio of -3.19 and a beta of 0.94. The business’s 50 day moving average is $3.44 and its 200-day moving average is $3.91. The company has a current ratio of 33.70, a quick ratio of 21.44 and a debt-to-equity ratio of 1.65.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $40.02 million for the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. Equities analysts anticipate that Blackrock Tcp Capital Corp. will post 0.68 earnings per share for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date is Wednesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio is presently -53.12%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TCPC shares. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods raised Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and raised their target price for the company from $3.50 to $4.00 in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.75.

Blackrock Tcp Capital Company Profile

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.