Invesco Ltd. Has $12.34 Million Stock Position in Blackrock Tcp Capital Corp. $TCPC

Invesco Ltd. lowered its position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,540,782 shares of the investment management company’s stock after selling 14,897 shares during the quarter. Invesco Ltd. owned approximately 1.81% of Blackrock Tcp Capital worth $12,342,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TCPC. Cetera Investment Advisers acquired a new stake in shares of Blackrock Tcp Capital during the 1st quarter worth about $4,514,000. Privium Fund Management UK Ltd acquired a new stake in shares of Blackrock Tcp Capital during the 1st quarter worth about $1,180,000. Jane Street Group LLC increased its stake in shares of Blackrock Tcp Capital by 291.5% in the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock valued at $1,243,000 after buying an additional 106,257 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Blackrock Tcp Capital in the fourth quarter valued at $886,000. Finally, Romano Brothers AND Company increased its stake in shares of Blackrock Tcp Capital by 522.7% in the first quarter. Romano Brothers AND Company now owns 87,645 shares of the investment management company’s stock valued at $702,000 after buying an additional 73,570 shares in the last quarter.

Blackrock Tcp Capital Price Performance

Shares of TCPC stock opened at $7.08 on Friday. The stock has a 50-day moving average price of $7.45 and a 200 day moving average price of $7.67. The company has a quick ratio of 14.07, a current ratio of 14.06 and a debt-to-equity ratio of 1.59. The firm has a market cap of $602.05 million, a price-to-earnings ratio of -41.65 and a beta of 1.01. Blackrock Tcp Capital Corp. has a 12 month low of $6.27 and a 12 month high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 7th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $56.16 million. Research analysts expect that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Blackrock Tcp Capital’s payout ratio is currently -588.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TCPC shares. Wells Fargo & Company restated an “underweight” rating and issued a $6.00 target price (down from $6.50) on shares of Blackrock Tcp Capital in a research note on Tuesday, August 12th. Wall Street Zen lowered Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $6.75.

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.