BlackRock TCP Capital Corp (TCPC) Holdings Reduced by Sound Income Strategies LLC
Sound Income Strategies LLC trimmed its holdings in shares of BlackRock TCP Capital Corp (NASDAQ:TCPC) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,339 shares of the investment management company’s stock after selling 2,085 shares during the period. Sound Income Strategies LLC’s holdings in BlackRock TCP Capital were worth $343,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Northern Trust Corp boosted its stake in BlackRock TCP Capital by 30.6% during the 2nd quarter. Northern Trust Corp now owns 26,565 shares of the investment management company’s stock valued at $384,000 after purchasing an additional 6,220 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of BlackRock TCP Capital by 22.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,803 shares of the investment management company’s stock worth $538,000 after buying an additional 6,859 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of BlackRock TCP Capital by 4.2% in the 3rd quarter. D.A. Davidson & CO. now owns 237,955 shares of the investment management company’s stock worth $3,386,000 after buying an additional 9,525 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of BlackRock TCP Capital in the 2nd quarter worth $145,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of BlackRock TCP Capital in the 3rd quarter worth $170,000. Institutional investors and hedge funds own 45.58% of the company’s stock.
BlackRock TCP Capital stock traded up $0.09 during trading on Friday, reaching $13.92. The company had a trading volume of 1,653 shares, compared to its average volume of 372,762. BlackRock TCP Capital Corp has a 52 week low of $12.52 and a 52 week high of $15.55. The stock has a market cap of $812.85 million, a P/E ratio of 6.99, a P/E/G ratio of 1.69 and a beta of 0.71. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.01 and a current ratio of 2.01.
The business also recently announced a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 17th were issued a $0.36 dividend. The ex-dividend date was Friday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.34%. BlackRock TCP Capital’s dividend payout ratio is currently 72.36%.
A number of research firms have recently issued reports on TCPC. BidaskClub downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. Zacks Investment Research upgraded BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Saturday, December 1st. Wells Fargo & Co dropped their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, October 4th. ValuEngine upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, National Securities restated a “buy” rating and issued a $19.00 price target on shares of BlackRock TCP Capital in a research note on Monday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.70.
In related news, CFO Paul L. Davis bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The shares were bought at an average cost of $14.24 per share, with a total value of $28,480.00. Following the acquisition, the chief financial officer now owns 15,000 shares in the company, valued at $213,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul L. Davis purchased 3,000 shares of the firm’s stock in a transaction on Friday, December 21st. The shares were acquired at an average cost of $12.88 per share, for a total transaction of $38,640.00. Following the completion of the acquisition, the chief financial officer now owns 15,900 shares of the company’s stock, valued at $204,792. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 40,725 shares of company stock worth $549,244. 11.40% of the stock is owned by insiders.
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About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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