Mariner LLC Grows Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Mariner LLC increased its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,293 shares of the investment management company’s stock after purchasing an additional 2,346 shares during the quarter. Mariner LLC’s holdings in BlackRock TCP Capital were worth $238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in shares of BlackRock TCP Capital by 4.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 170,478 shares of the investment management company’s stock worth $1,485,000 after buying an additional 7,320 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in BlackRock TCP Capital in the fourth quarter valued at $886,000. Envestnet Asset Management Inc. boosted its stake in BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock valued at $4,867,000 after acquiring an additional 481,581 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $161,000. Finally, TrueMark Investments LLC acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth about $5,268,000.

Analyst Ratings Changes

Several research firms have commented on TCPC. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. Finally, Wells Fargo & Company decreased their price target on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a research note on Monday, April 28th.

Insiders Place Their Bets

In related news, COO Patrick Wolfe purchased 6,100 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired 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 of the company’s stock, valued at $64,984.36. This trade represents a 320.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction on Friday, March 21st. The shares were bought at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the transaction, the chief executive officer now directly owns 38,587 shares of the company’s stock, valued at $298,663.38. This trade represents a 34.98 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 18,500 shares of company stock worth $146,444. 0.21% of the stock is owned by corporate insiders.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $6.72 on Wednesday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average is $7.39 and its two-hundred day moving average is $8.37. 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 capitalization of $571.72 million, a PE ratio of -13.44 and a beta of 1.03.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 14.88%. The ex-dividend date was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

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.