SeaCrest Wealth Management LLC Sells 5,472 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

SeaCrest Wealth Management LLC trimmed its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 25.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,728 shares of the investment management company’s stock after selling 5,472 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in BlackRock TCP Capital were worth $164,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in BlackRock TCP Capital in the 1st quarter valued at about $26,000. Morton Brown Family Wealth LLC bought a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $32,000. Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital during the first quarter valued at approximately $31,000. Cape Investment Advisory Inc. acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $74,000. Finally, Tucker Asset Management LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth approximately $74,000.

BlackRock TCP Capital Stock Performance

TCPC stock opened at $10.92 on Friday. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37. BlackRock TCP Capital Corp. has a twelve month low of $9.90 and a twelve month high of $13.00. The business’s fifty day moving average is $10.81 and its 200-day moving average is $10.88. The company has a market cap of $934.64 million, a P/E ratio of 31.20 and a beta of 1.49.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data 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. The firm had revenue of $55.73 million during the quarter, compared to analysts’ expectations of $50.99 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same quarter in the previous year, the company earned $0.44 earnings per share. Equities research analysts forecast that BlackRock TCP Capital Corp. will post 1.71 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.36 annualized dividend and a dividend yield of 12.45%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Wall Street Analyst Weigh In

TCPC has been the subject of several research reports. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Oppenheimer lowered their price objective on 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. Finally, StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.67.

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.