Transcend Capital Advisors LLC Sells 107,741 Shares of Blackrock Tcp Capital Corp. $TCPC

Transcend Capital Advisors LLC lowered its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,225,952 shares of the investment management company’s stock after selling 107,741 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Blackrock Tcp Capital were worth $7,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Next Capital Management LLC increased its position in Blackrock Tcp Capital by 2,131.4% in the second quarter. Next Capital Management LLC now owns 1,134,826 shares of the investment management company’s stock worth $8,738,000 after buying an additional 1,083,968 shares in the last quarter. Marshall Wace LLP purchased a new position in Blackrock Tcp Capital during the second quarter valued at $4,045,000. North Ground Capital purchased a new stake in shares of Blackrock Tcp Capital in the third quarter worth about $3,100,000. Bank of America Corp DE raised its stake in Blackrock Tcp Capital by 101.6% during the second quarter. Bank of America Corp DE now owns 223,722 shares of the investment management company’s stock valued at $1,723,000 after purchasing an additional 112,769 shares in the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in shares of Blackrock Tcp Capital during the 3rd quarter valued at about $589,000.

Blackrock Tcp Capital Stock Down 1.0%

Shares of NASDAQ TCPC opened at $5.18 on Friday. The company’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $6.23. Blackrock Tcp Capital Corp. has a 52-week low of $4.88 and a 52-week high of $9.48. The firm has a market cap of $439.47 million, a price-to-earnings ratio of -39.85 and a beta of 0.89. 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 (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $50.52 million during the quarter, compared to analyst estimates of $51.01 million. Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%. Equities analysts predict that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 19.3%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is -769.23%.

Analysts Set New Price Targets

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

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.