BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,585 shares of the investment management company’s stock after selling 2,276 shares during the quarter. Northern Trust Corp’s holdings in BlackRock TCP Capital were worth $197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after purchasing an additional 3,508 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter worth about $70,000. VSM Wealth Advisory LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $84,000. Entropy Technologies LP purchased a new position in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $115,000. Finally, Two Sigma Securities LLC purchased a new position in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $141,000.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $7.82 on Tuesday. BlackRock TCP Capital Corp. has a 1 year low of $6.27 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm has a 50 day moving average price of $7.24 and a 200 day moving average price of $8.27. The company has a market cap of $665.00 million, a price-to-earnings ratio of -15.64 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $55.89 million during the quarter, compared to analysts’ expectations of $57.95 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. Sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 12.79%. BlackRock TCP Capital’s dividend payout ratio is presently -172.41%.

Insiders Place Their Bets

In related news, CEO Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $7.74 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Wolfe acquired 6,100 shares of BlackRock TCP Capital stock in a transaction on Friday, March 14th. The shares were bought at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now owns 8,003 shares of the company’s stock, valued at $64,984.36. This represents a 320.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 18,500 shares of company stock worth $146,444 over the last three months. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen downgraded BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a research report on Monday, April 28th.

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.