Blackrock Tcp Capital Corp. $TCPC Shares Bought by GraniteShares Advisors LLC

GraniteShares Advisors LLC grew its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,833 shares of the investment management company’s stock after purchasing an additional 19,987 shares during the quarter. GraniteShares Advisors LLC owned approximately 0.38% of Blackrock Tcp Capital worth $2,463,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TCPC. Wealth Enhancement Advisory Services LLC increased its stake in Blackrock Tcp Capital by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock worth $91,000 after buying an additional 1,352 shares in the last quarter. VSM Wealth Advisory LLC increased its position in shares of Blackrock Tcp Capital by 15.9% during the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company’s stock worth $90,000 after purchasing an additional 1,537 shares in the last quarter. Mallini Complete Financial Planning LLC raised its stake in Blackrock Tcp Capital by 9.6% in the 1st quarter. Mallini Complete Financial Planning LLC now owns 22,505 shares of the investment management company’s stock valued at $180,000 after purchasing an additional 1,971 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Blackrock Tcp Capital by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock valued at $82,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Blackrock Tcp Capital by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company’s stock worth $773,000 after purchasing an additional 2,687 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $6.00 price target (down previously from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.75.

Blackrock Tcp Capital Stock Performance

NASDAQ TCPC opened at $6.24 on Monday. Blackrock Tcp Capital Corp. has a 1-year low of $6.18 and a 1-year high of $9.72. The stock has a 50-day moving average of $7.06 and a two-hundred day moving average of $7.33. The company has a market cap of $530.65 million, a P/E ratio of -36.71 and a beta of 1.04. The company has a debt-to-equity ratio of 1.59, a current ratio of 14.06 and a quick ratio of 14.07.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The business had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $56.16 million. As a group, analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Blackrock Tcp Capital’s payout ratio is -588.24%.

Blackrock Tcp Capital 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.