Redhawk Wealth Advisors Inc. Buys New Position in Blackrock Tcp Capital Corp. $TCPC

Redhawk Wealth Advisors Inc. bought a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the second quarter, HoldingsChannel reports. The fund bought 106,720 shares of the investment management company’s stock, valued at approximately $822,000.

Other large investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC lifted its position in Blackrock Tcp Capital by 2.8% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,472,609 shares of the investment management company’s stock worth $11,796,000 after acquiring an additional 40,153 shares during the period. Envestnet Asset Management Inc. lifted its position in Blackrock Tcp Capital by 6.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 593,485 shares of the investment management company’s stock worth $4,754,000 after acquiring an additional 34,670 shares during the period. Cetera Investment Advisers acquired a new stake in Blackrock Tcp Capital during the 1st quarter worth approximately $4,514,000. Columbus Macro LLC lifted its position in Blackrock Tcp Capital by 7.7% during the 1st quarter. Columbus Macro LLC now owns 516,303 shares of the investment management company’s stock worth $4,136,000 after acquiring an additional 36,692 shares during the period. Finally, Barings LLC lifted its position in Blackrock Tcp Capital by 3.6% during the 1st quarter. Barings LLC now owns 497,580 shares of the investment management company’s stock worth $3,986,000 after acquiring an additional 17,258 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TCPC. Wall Street Zen cut Blackrock Tcp Capital from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $6.00 price objective (down from $6.50) on shares of Blackrock Tcp Capital in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blackrock Tcp Capital currently has an average rating of “Reduce” and an average price target of $6.75.

Blackrock Tcp Capital Stock Performance

Shares of TCPC stock opened at $6.65 on Friday. The company has a market cap of $565.52 million, a price-to-earnings ratio of -39.12 and a beta of 1.04. The stock has a 50 day simple moving average of $7.24 and a 200-day simple moving average of $7.41. Blackrock Tcp Capital Corp. has a 12-month low of $6.27 and a 12-month high of $9.72. The company has a current ratio of 14.06, a quick ratio of 14.07 and a debt-to-equity ratio of 1.59.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $56.16 million. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. On average, equities analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Blackrock Tcp Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -588.24%.

About Blackrock Tcp Capital

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.