Confluence Investment Management LLC Decreases Stock Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)


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Confluence Investment Management LLC trimmed its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,752 shares of the investment management company’s stock after selling 55,051 shares during the quarter. Confluence Investment Management LLC’s holdings in BlackRock TCP Capital were worth $5,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TCPC. Great West Life Assurance Co. Can grew its position in shares of BlackRock TCP Capital by 1,948.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 453,480 shares of the investment management company’s stock valued at $1,660,000 after buying an additional 431,341 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of BlackRock TCP Capital by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 918,610 shares of the investment management company’s stock valued at $10,325,000 after purchasing an additional 114,034 shares during the period. Inspire Advisors LLC purchased a new position in BlackRock TCP Capital during the 4th quarter worth $776,000. BlackRock Inc. boosted its holdings in BlackRock TCP Capital by 21.8% in the 3rd quarter. BlackRock Inc. now owns 379,518 shares of the investment management company’s stock valued at $3,723,000 after purchasing an additional 68,021 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in BlackRock TCP Capital during the third quarter worth $473,000. 28.95% of the stock is owned by institutional investors.

Shares of TCPC stock traded up $0.04 during midday trading on Thursday, reaching $14.47. 3 shares of the company were exchanged, compared to its average volume of 314,730. BlackRock TCP Capital Corp. has a 12 month low of $6.36 and a 12 month high of $15.07. The company has a market cap of $835.89 million, a P/E ratio of 35.20 and a beta of 1.65. The company’s 50 day moving average price is $13.60 and its two-hundred day moving average price is $11.70. The company has a debt-to-equity ratio of 1.27, a quick ratio of 5.73 and a current ratio of 5.73.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, February 24th. The investment management company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. BlackRock TCP Capital had a return on equity of 11.83% and a net margin of 12.56%. The business had revenue of $42.89 million during the quarter, compared to analyst estimates of $40.95 million. As a group, sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.29%. The ex-dividend date of this dividend was Tuesday, March 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 74.53%.

Several research firms recently commented on TCPC. JMP Securities reiterated an “outperform” rating and issued a $14.50 price objective on shares of BlackRock TCP Capital in a research report on Tuesday, March 9th. Zacks Investment Research downgraded BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. Oppenheimer reissued a “buy” rating and set a $14.00 price objective on shares of BlackRock TCP Capital in a research note on Friday, February 26th. TheStreet upgraded BlackRock TCP Capital from a “c” rating to a “b” rating in a report on Thursday, April 1st. Finally, Raymond James raised BlackRock TCP Capital from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Thursday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. BlackRock TCP Capital presently has an average rating of “Buy” and a consensus price target of $13.20.

BlackRock TCP Capital Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, 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.

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Institutional Ownership by Quarter for BlackRock TCP Capital (NASDAQ:TCPC)

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