47,304 Shares in BlackRock TCP Capital Corp. (NASDAQ:TCPC) Bought by Verus Capital Partners LLC

Verus Capital Partners LLC bought a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 47,304 shares of the investment management company’s stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TCPC. Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in BlackRock TCP Capital in the 2nd quarter worth approximately $60,000. Pathway Financial Advisers LLC grew its stake in BlackRock TCP Capital by 729.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after buying an additional 6,379 shares in the last quarter. Accel Wealth Management bought a new position in shares of BlackRock TCP Capital in the 2nd quarter worth $108,000. Finally, Disciplined Investments LLC purchased a new stake in shares of BlackRock TCP Capital during the 2nd quarter valued at $108,000.

Insider Buying and Selling at BlackRock TCP Capital

In other news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock TCP Capital news, Director Philip M. Tseng bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares of the company’s stock, valued at $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 42,000 shares of company stock valued at $381,875 in the last quarter. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $8.59 on Wednesday. The stock’s 50-day moving average price is $8.41 and its 200-day moving average price is $9.70. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. During the same period last year, the firm earned $0.49 earnings per share. Sell-side analysts expect that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a yield of 20.49%. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio is currently -271.99%.

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.