Wealthcare Advisory Partners LLC Cuts Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Wealthcare Advisory Partners LLC lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,502 shares of the investment management company’s stock after selling 1,963 shares during the period. Wealthcare Advisory Partners LLC’s holdings in BlackRock TCP Capital were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of BlackRock TCP Capital by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock valued at $19,186,000 after buying an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 17.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock valued at $12,477,000 after acquiring an additional 209,898 shares in the last quarter. TrueMark Investments LLC purchased a new position in BlackRock TCP Capital during the 4th quarter valued at about $5,268,000. Envestnet Asset Management Inc. raised its position in BlackRock TCP Capital by 623.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after acquiring an additional 481,581 shares during the last quarter. Finally, Barings LLC lifted its holdings in shares of BlackRock TCP Capital by 5.0% in the fourth quarter. Barings LLC now owns 480,322 shares of the investment management company’s stock valued at $4,184,000 after purchasing an additional 22,675 shares in the last quarter.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC opened at $7.77 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm has a market cap of $660.75 million, a PE ratio of -15.54 and a beta of 1.03. The firm has a 50 day simple moving average of $7.29 and a 200-day simple moving average of $8.19. BlackRock TCP Capital Corp. has a 1-year low of $6.27 and a 1-year high of $11.06.

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

BlackRock TCP Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.87%. The ex-dividend date is Monday, June 16th. BlackRock TCP Capital’s dividend payout ratio is currently -172.41%.

Insider Transactions at BlackRock TCP Capital

In other news, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the acquisition, the chief executive officer now owns 38,587 shares of the company’s stock, valued at $298,663.38. The trade was a 34.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TCPC. Wall Street Zen cut shares of BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods lowered their target price 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, Wells Fargo & Company cut their price target on BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a report on Monday, April 28th.

BlackRock TCP Capital 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.