Transcend Capital Advisors LLC Has $7.60 Million Stock Holdings in Blackrock Tcp Capital Corp. $TCPC

Transcend Capital Advisors LLC decreased its position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,225,952 shares of the investment management company’s stock after selling 107,741 shares during the quarter. Transcend Capital Advisors LLC owned about 1.44% of Blackrock Tcp Capital worth $7,601,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TCPC. North Ground Capital purchased a new position in shares of Blackrock Tcp Capital during the third quarter valued at approximately $3,100,000. Ethos Financial Group LLC bought a new stake in Blackrock Tcp Capital in the third quarter worth about $589,000. Next Capital Management LLC raised its holdings in shares of Blackrock Tcp Capital by 2,131.4% in the 2nd quarter. Next Capital Management LLC now owns 1,134,826 shares of the investment management company’s stock worth $8,738,000 after purchasing an additional 1,083,968 shares during the period. Access Investment Management LLC purchased a new position in shares of Blackrock Tcp Capital during the 2nd quarter valued at $418,000. Finally, Mission Wealth Management LP purchased a new stake in Blackrock Tcp Capital during the second quarter valued at about $114,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TCPC shares. Zacks Research raised shares of Blackrock Tcp Capital from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Wells Fargo & Company lowered their target price on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.50.

Blackrock Tcp Capital Stock Performance

Blackrock Tcp Capital stock opened at $5.18 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 14.55 and a current ratio of 14.55. The stock has a market cap of $439.47 million, a price-to-earnings ratio of -39.85 and a beta of 0.89. The stock’s 50 day simple moving average is $5.69 and its two-hundred day simple moving average is $6.23. Blackrock Tcp Capital Corp. has a fifty-two week low of $4.88 and a fifty-two week high of $9.48.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, November 6th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Blackrock Tcp Capital had a negative net margin of 4.20% and a positive return on equity of 15.27%. The business had revenue of $50.52 million for the quarter, compared to the consensus estimate of $51.01 million. As a group, analysts expect that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 19.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Blackrock Tcp Capital’s dividend payout ratio is currently -769.23%.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.