Janney Montgomery Scott LLC Reduces Position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC)

Janney Montgomery Scott LLC decreased its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,097 shares of the investment management company’s stock after selling 2,730 shares during the period. Janney Montgomery Scott LLC’s holdings in Blackrock Tcp Capital were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in Blackrock Tcp Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after buying an additional 3,508 shares during the period. Transce3nd LLC purchased a new position in shares of Blackrock Tcp Capital during the fourth quarter worth $70,000. VSM Wealth Advisory LLC acquired a new position in Blackrock Tcp Capital during the fourth quarter valued at $84,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Blackrock Tcp Capital in the 1st quarter valued at about $83,000. Finally, Merit Financial Group LLC acquired a new position in Blackrock Tcp Capital in the first quarter valued at approximately $111,000.

Wall Street Analyst Weigh In

TCPC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company reduced their target price on 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Blackrock Tcp Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th.

Blackrock Tcp Capital Price Performance

Shares of TCPC opened at $7.80 on Monday. The company has a quick ratio of 34.00, a current ratio of 34.00 and a debt-to-equity ratio of 1.41. Blackrock Tcp Capital Corp. has a 52-week low of $6.27 and a 52-week high of $11.06. The stock has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $8.02. The company has a market capitalization of $663.31 million, a PE ratio of -13.45 and a beta of 1.02.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. The company had revenue of $55.89 million during the quarter, compared to analyst estimates of $57.95 million. As a group, equities analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.82%. The ex-dividend date of this dividend was Monday, June 16th. Blackrock Tcp Capital’s payout ratio is -172.41%.

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.