12,500 Shares in Blackrock Tcp Capital Corp. $TCPC Acquired by Midwest Trust Co

Midwest Trust Co acquired a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the 2nd quarter, Holdings Channel reports. The firm acquired 12,500 shares of the investment management company’s stock, valued at approximately $96,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCPC. PNC Financial Services Group Inc. boosted its position in Blackrock Tcp Capital by 27.5% during the first quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company’s stock worth $82,000 after purchasing an additional 2,200 shares in the last quarter. VSM Wealth Advisory LLC increased its position in shares of Blackrock Tcp Capital by 15.9% in the first quarter. VSM Wealth Advisory LLC now owns 11,230 shares of the investment management company’s stock valued at $90,000 after buying an additional 1,537 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Blackrock Tcp Capital by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock worth $91,000 after buying an additional 1,352 shares during the last quarter. Mission Wealth Management LP acquired a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth $114,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Blackrock Tcp Capital in the 2nd quarter worth about $115,000.

Blackrock Tcp Capital Trading Down 1.0%

Shares of TCPC stock opened at $5.81 on Friday. The company has a market capitalization of $492.93 million, a price-to-earnings ratio of -34.18 and a beta of 1.03. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $6.08 and a 200 day moving average price of $6.97. Blackrock Tcp Capital Corp. has a twelve month low of $5.39 and a twelve month high of $9.72.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly 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). The firm had revenue of $50.52 million for the quarter, compared to analysts’ expectations of $51.01 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. Research analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $1.00 annualized dividend and a yield of 17.2%. Blackrock Tcp Capital’s payout ratio is -769.23%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TCPC shares. Weiss Ratings restated a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday. Finally, Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus price target of $6.50.

Blackrock Tcp Capital Company 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.