UBS Group AG Grows Stake in Blackrock Tcp Capital Corp. $TCPC

UBS Group AG boosted its position in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 8.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,571,451 shares of the investment management company’s stock after buying an additional 128,687 shares during the period. UBS Group AG’s holdings in Blackrock Tcp Capital were worth $8,596,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Blackrock Tcp Capital during the 3rd quarter worth $25,000. Sound Income Strategies LLC increased its holdings in Blackrock Tcp Capital by 188.7% during the 4th quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after purchasing an additional 3,315 shares during the period. Blue Trust Inc. purchased a new position in Blackrock Tcp Capital during the 4th quarter worth $59,000. CIBC Bancorp USA Inc. purchased a new position in Blackrock Tcp Capital during the 3rd quarter worth $65,000. Finally, Significant Wealth Partners LLC purchased a new position in Blackrock Tcp Capital during the 3rd quarter worth $71,000.

Blackrock Tcp Capital Price Performance

Shares of NASDAQ TCPC opened at $4.15 on Monday. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $348.19 million, a PE ratio of -2.79 and a beta of 0.98. The stock’s fifty day simple moving average is $3.93 and its two-hundred day simple moving average is $4.90. Blackrock Tcp Capital Corp. has a 12-month low of $3.43 and a 12-month high of $8.06.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $42.58 million during the quarter, compared to analysts’ expectations of $40.10 million. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%. As a group, analysts expect that Blackrock Tcp Capital Corp. will post 0.83 EPS for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 16.4%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -45.64%.

Analyst Upgrades and Downgrades

TCPC has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $3.50 target price (down from $7.00) on shares of Blackrock Tcp Capital in a research report on Tuesday, March 3rd. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company dropped their target price on Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Finally, Zacks Research cut Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and an average target price of $3.50.

Insider Buying and Selling at Blackrock Tcp Capital

In other Blackrock Tcp Capital news, COO Patrick Wolfe acquired 6,850 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $3.65 per share, with a total value of $25,002.50. Following the transaction, the chief operating officer directly owned 16,086 shares of the company’s stock, valued at $58,713.90. This trade represents a 74.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

Blackrock Tcp Capital 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.