Invesco Ltd. Lowers Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Invesco Ltd. lessened its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,555,679 shares of the investment management company’s stock after selling 124,373 shares during the period. Invesco Ltd. owned approximately 1.82% of BlackRock TCP Capital worth $13,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at $38,000. McIlrath & Eck LLC purchased a new position in BlackRock TCP Capital during the third quarter valued at $46,000. VSM Wealth Advisory LLC purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter worth approximately $84,000. Entropy Technologies LP bought a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $115,000. Finally, SeaCrest Wealth Management LLC lifted its position in BlackRock TCP Capital by 18.8% during the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 2,350 shares during the period.

Insiders Place Their Bets

In other BlackRock TCP Capital news, COO Patrick Wolfe acquired 6,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now owns 38,587 shares of the company’s stock, valued at approximately $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 18,500 shares of company stock valued at $146,444 over the last 90 days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TCPC. Wells Fargo & Company decreased their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.33.

BlackRock TCP Capital Trading Down 1.6 %

Shares of BlackRock TCP Capital stock opened at $6.68 on Tuesday. The business has a 50-day moving average price of $7.93 and a 200-day moving average price of $8.48. BlackRock TCP Capital Corp. has a twelve month low of $6.27 and a twelve month high of $11.52. The firm has a market cap of $568.31 million, a price-to-earnings ratio of -13.36 and a beta of 1.21. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 14.97%. BlackRock TCP Capital’s payout ratio is presently -133.33%.

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.