North Ground Capital Buys Shares of 500,000 Blackrock Tcp Capital Corp. $TCPC

North Ground Capital purchased a new position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 500,000 shares of the investment management company’s stock, valued at approximately $3,100,000. Blackrock Tcp Capital accounts for approximately 1.9% of North Ground Capital’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors also recently modified their holdings of TCPC. State of Alaska Department of Revenue acquired a new stake in shares of Blackrock Tcp Capital during the third quarter worth $25,000. Nomura Asset Management Co. Ltd. bought a new stake in Blackrock Tcp Capital during the second quarter valued at $30,000. MTM Investment Management LLC acquired a new stake in Blackrock Tcp Capital during the 2nd quarter worth about $46,000. Spire Wealth Management bought a new position in shares of Blackrock Tcp Capital in the 3rd quarter worth about $78,000. Finally, Creative Planning acquired a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at about $85,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Zacks Research raised shares of Blackrock Tcp Capital from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Wells Fargo & Company lowered their price objective on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Blackrock Tcp Capital has an average rating of “Hold” and a consensus target price of $6.50.

Blackrock Tcp Capital Trading Down 1.0%

NASDAQ TCPC opened at $5.79 on Monday. The company has a quick ratio of 14.55, a current ratio of 14.55 and a debt-to-equity ratio of 1.42. Blackrock Tcp Capital Corp. has a 52 week low of $5.29 and a 52 week high of $9.48. The business has a 50 day moving average price of $5.73 and a 200-day moving average price of $6.38. The company has a market cap of $491.22 million, a price-to-earnings ratio of -44.54 and a beta of 0.89.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $50.52 million during the quarter, compared to analyst estimates of $51.01 million. Blackrock Tcp Capital had a negative net margin of 4.20% and a positive return on equity of 15.27%. As a group, equities analysts expect that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.00 annualized dividend and a yield of 17.3%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -769.23%.

Blackrock Tcp Capital 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.