GatePass Capital LLC Makes New $1 Million Investment in Blackrock Tcp Capital Corp. $TCPC

GatePass Capital LLC acquired a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 277,220 shares of the investment management company’s stock, valued at approximately $1,001,000.

A number of other institutional investors have also recently made changes to their positions in TCPC. CANADA LIFE ASSURANCE Co boosted its stake in shares of Blackrock Tcp Capital by 2.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 105,870 shares of the investment management company’s stock valued at $577,000 after purchasing an additional 2,943 shares during the period. Sound Income Strategies LLC increased its stake in shares of Blackrock Tcp Capital by 188.7% in the fourth quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after buying an additional 3,315 shares during the period. Raymond James Financial Inc. raised its holdings in Blackrock Tcp Capital by 7.7% during the 2nd quarter. Raymond James Financial Inc. now owns 90,675 shares of the investment management company’s stock valued at $698,000 after buying an additional 6,509 shares during the last quarter. Caxton Associates LLP raised its holdings in Blackrock Tcp Capital by 16.2% during the 2nd quarter. Caxton Associates LLP now owns 60,779 shares of the investment management company’s stock valued at $468,000 after buying an additional 8,479 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Blackrock Tcp Capital during the 3rd quarter valued at $65,000.

Analyst Upgrades and Downgrades

TCPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Blackrock Tcp Capital presently has a consensus rating of “Strong Sell” and a consensus target price of $3.50.

Blackrock Tcp Capital Stock Down 0.9%

Shares of NASDAQ TCPC opened at $3.31 on Friday. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.64. Blackrock Tcp Capital Corp. has a 12 month low of $3.08 and a 12 month high of $7.88. The firm has a market capitalization of $277.71 million, a PE ratio of -2.22 and a beta of 0.95. The firm has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $4.20.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, May 7th. The investment management company reported $0.21 earnings per share for the quarter, beating 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 analyst estimates of $40.10 million. Equities analysts expect that Blackrock Tcp Capital Corp. will post 0.83 earnings per share for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 20.5%. Blackrock Tcp Capital’s dividend payout ratio is -45.64%.

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.