Signaturefd LLC Raises Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Signaturefd LLC increased its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 73.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,490 shares of the investment management company’s stock after purchasing an additional 5,700 shares during the quarter. Signaturefd LLC’s holdings in BlackRock TCP Capital were worth $156,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Morton Brown Family Wealth LLC purchased a new stake in BlackRock TCP Capital in the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC purchased a new stake in BlackRock TCP Capital in the third quarter valued at about $121,000. Axxcess Wealth Management LLC purchased a new stake in BlackRock TCP Capital in the third quarter valued at about $122,000. Grimes & Company Inc. purchased a new stake in BlackRock TCP Capital in the fourth quarter valued at about $165,000. Finally, Quantbot Technologies LP raised its stake in BlackRock TCP Capital by 310.1% in the third quarter. Quantbot Technologies LP now owns 16,197 shares of the investment management company’s stock valued at $190,000 after buying an additional 12,247 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on TCPC. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Oppenheimer restated a “market perform” rating and issued a $11.00 price objective (down from $13.00) on shares of BlackRock TCP Capital in a research note on Wednesday, March 6th. Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. JMP Securities restated a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.25.

BlackRock TCP Capital Stock Up 1.6 %

BlackRock TCP Capital stock opened at $10.09 on Monday. The firm has a market cap of $582.90 million, a price-to-earnings ratio of 15.29 and a beta of 1.43. BlackRock TCP Capital Corp. has a 52 week low of $9.61 and a 52 week high of $13.00. The business’s 50-day moving average price is $10.40 and its 200 day moving average price is $11.07. The company has a quick ratio of 30.47, a current ratio of 30.47 and a debt-to-equity ratio of 1.43.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, February 29th. The investment management company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $50.85 million for the quarter, compared to analyst estimates of $53.36 million. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. As a group, sell-side analysts anticipate that BlackRock TCP Capital Corp. will post 1.73 earnings per share for the current year.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.48%. The ex-dividend date of this dividend was Wednesday, March 13th. BlackRock TCP Capital’s dividend payout ratio (DPR) is 206.06%.

About BlackRock TCP Capital

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.