Paloma Partners Management Co Makes New Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Paloma Partners Management Co bought a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,294 shares of the investment management company’s stock, valued at approximately $608,000.

Other large investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in BlackRock TCP Capital during the third quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 2nd quarter worth approximately $60,000. Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter. Quantbot Technologies LP acquired a new position in BlackRock TCP Capital during the 3rd quarter valued at approximately $79,000. Finally, MeadowBrook Investment Advisors LLC grew its stake in BlackRock TCP Capital by 22.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock worth $90,000 after buying an additional 1,970 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TCPC. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring acquired 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average price of $9.30 per share, with a total value of $41,850.00. Following the purchase, the president now directly owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the purchase, the director now owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The trade was a 57.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 19,500 shares of company stock valued at $178,200. Corporate insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Stock Performance

Shares of TCPC opened at $9.19 on Wednesday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $8.48 and a 200 day moving average price of $9.56. BlackRock TCP Capital Corp. has a 52-week low of $7.71 and a 52-week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The company had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. During the same quarter last year, the business earned $0.49 earnings per share. On average, sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a dividend yield of 19.15%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -271.99%.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.