Blackrock Tcp Capital Corp. $TCPC Stock Holdings Trimmed by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,333,693 shares of the investment management company’s stock after selling 138,916 shares during the quarter. Blackrock Tcp Capital makes up about 0.8% of Transcend Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Transcend Capital Advisors LLC owned approximately 1.57% of Blackrock Tcp Capital worth $10,269,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Blackrock Tcp Capital by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,352 shares during the last quarter. VSM Wealth Advisory LLC grew its holdings 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 valued at $90,000 after purchasing an additional 1,537 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Blackrock Tcp Capital by 27.5% during the first 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 during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Blackrock Tcp Capital by 2.9% during the first quarter. Arkadios Wealth Advisors now owns 96,516 shares of the investment management company’s stock valued at $773,000 after purchasing an additional 2,687 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in shares of Blackrock Tcp Capital by 25.0% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 20,000 shares of the investment management company’s stock valued at $154,000 after purchasing an additional 4,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on TCPC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday. Wells Fargo & Company reaffirmed an “underweight” rating and set a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered Blackrock Tcp Capital from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $6.75.

Blackrock Tcp Capital Stock Performance

Shares of NASDAQ TCPC opened at $5.79 on Monday. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $6.48 and a 200-day simple moving average of $7.07. The company has a market cap of $492.36 million, a PE ratio of -34.06 and a beta of 1.04. Blackrock Tcp Capital Corp. has a 12-month low of $5.39 and a 12-month high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. On average, equities research analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 17.3%. The ex-dividend date was Tuesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio is -588.24%.

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.