International Assets Investment Management LLC Buys 376,278 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

International Assets Investment Management LLC boosted its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 1,054.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 411,978 shares of the investment management company’s stock after purchasing an additional 376,278 shares during the period. International Assets Investment Management LLC’s holdings in BlackRock TCP Capital were worth $4,754,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in BlackRock TCP Capital during the third quarter valued at approximately $121,000. Axxcess Wealth Management LLC bought a new position in BlackRock TCP Capital in the 3rd quarter worth approximately $122,000. Grimes & Company Inc. bought a new stake in shares of BlackRock TCP Capital in the fourth quarter worth about $165,000. Quantbot Technologies LP increased its position in BlackRock TCP Capital by 310.1% in the third quarter. Quantbot Technologies LP now owns 16,197 shares of the investment management company’s stock worth $190,000 after purchasing an additional 12,247 shares during the last quarter. Finally, Bartlett & Co. LLC raised its position in shares of BlackRock TCP Capital by 26.7% during the 4th quarter. Bartlett & Co. LLC now owns 19,000 shares of the investment management company’s stock valued at $221,000 after buying an additional 4,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on TCPC. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. JMP Securities restated a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Oppenheimer reduced their price objective on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Raymond James downgraded shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company upped their price target on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

BlackRock TCP Capital Trading Up 0.7 %

NASDAQ TCPC opened at $10.52 on Thursday. The company has a current ratio of 19.05, a quick ratio of 19.05 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $11.04. BlackRock TCP Capital Corp. has a 12-month low of $9.90 and a 12-month high of $13.00. The stock has a market cap of $607.71 million, a P/E ratio of 30.06 and a beta of 1.42.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The business had revenue of $55.73 million for the quarter, compared to analyst estimates of $50.99 million. During the same period in the prior year, the company earned $0.44 earnings per share. On average, analysts forecast that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 12.93%. The ex-dividend date is Friday, June 14th. BlackRock TCP Capital’s payout ratio is 388.57%.

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.