Blackrock Tcp Capital (NASDAQ:TCPC) Issues Earnings Results

Blackrock Tcp Capital (NASDAQ:TCPC) released its earnings results on Thursday. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), Zacks reports. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. The company had revenue of $50.52 million during the quarter, compared to analysts’ expectations of $51.01 million.

Blackrock Tcp Capital Stock Performance

Shares of NASDAQ:TCPC traded down $0.08 during trading on Friday, hitting $5.70. 1,076,839 shares of the company were exchanged, compared to its average volume of 614,578. Blackrock Tcp Capital has a 52-week low of $5.39 and a 52-week high of $9.72. The stock has a 50 day moving average of $6.20 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 14.06 and a quick ratio of 14.07. The company has a market cap of $484.71 million, a PE ratio of -33.53 and a beta of 1.03.

Blackrock Tcp Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.00 annualized dividend and a dividend yield of 17.5%. Blackrock Tcp Capital’s dividend payout ratio is currently -588.24%.

Institutional Trading of Blackrock Tcp Capital

A number of institutional investors have recently added to or reduced their stakes in TCPC. Creative Planning purchased a new position in Blackrock Tcp Capital during the 2nd quarter valued at about $85,000. Jane Street Group LLC purchased a new stake in shares of Blackrock Tcp Capital in the second quarter worth about $157,000. XTX Topco Ltd bought a new position in shares of Blackrock Tcp Capital in the second quarter valued at approximately $166,000. Caxton Associates LLP grew its stake in Blackrock Tcp Capital by 16.2% during the second quarter. Caxton Associates LLP now owns 60,779 shares of the investment management company’s stock valued at $468,000 after acquiring an additional 8,479 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Blackrock Tcp Capital by 4.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 86,364 shares of the investment management company’s stock worth $664,000 after acquiring an additional 3,648 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TCPC shares. Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Sell” and an average target price of $6.75.

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.