BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Ignite Planners LLC

Ignite Planners LLC lowered its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,359 shares of the investment management company’s stock after selling 8,585 shares during the period. Ignite Planners LLC’s holdings in BlackRock TCP Capital were worth $676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth about $32,000. Cape Investment Advisory Inc. acquired a new position in BlackRock TCP Capital during the fourth quarter worth about $74,000. Tucker Asset Management LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth about $74,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $79,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $118,000.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $10.76 on Tuesday. BlackRock TCP Capital Corp. has a 1 year low of $9.90 and a 1 year high of $13.00. The firm has a 50 day moving average price of $10.69 and a 200 day moving average price of $10.94. The company has a market cap of $920.95 million, a price-to-earnings ratio of 30.74 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. The firm had revenue of $55.73 million during the quarter, compared to the consensus estimate of $50.99 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.36 annualized dividend and a yield of 12.64%. BlackRock TCP Capital’s dividend payout ratio is currently 388.58%.

Wall Street Analyst Weigh In

TCPC has been the subject of a number of analyst reports. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Raymond James lowered shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Oppenheimer cut 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 report on Thursday, May 2nd. JMP Securities reissued a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.67.

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.