Caxton Associates LP Cuts Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Caxton Associates LP lessened its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,532 shares of the investment management company’s stock after selling 8,188 shares during the period. Caxton Associates LP’s holdings in BlackRock TCP Capital were worth $416,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new position in shares of BlackRock TCP Capital during the first quarter worth about $26,000. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital during the 1st quarter worth approximately $31,000. International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital in the 2nd quarter valued at approximately $60,000. Tucker Asset Management LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at $74,000. Finally, SteelPeak Wealth LLC acquired a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at $104,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company lowered BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.50 to $8.00 in a report on Monday, August 26th. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.00.

Insider Buying and Selling

In related news, Director Philip M. Tseng acquired 10,000 shares of BlackRock TCP Capital stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares in the company, valued at $250,077.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $9.10 per share, with a total value of $91,000.00. Following the completion of the acquisition, the director now owns 27,481 shares in the company, valued at approximately $250,077.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rajneesh Vig purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The disclosure for this purchase can be found here. Insiders have purchased a total of 42,000 shares of company stock valued at $381,875 over the last quarter. 0.16% of the stock is currently owned by insiders.

BlackRock TCP Capital Trading Up 3.1 %

TCPC opened at $8.33 on Friday. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a 52 week low of $8.03 and a 52 week high of $12.43. The business’s 50 day moving average is $9.27 and its two-hundred day moving average is $10.13. The firm has a market cap of $712.96 million, a price-to-earnings ratio of 23.80 and a beta of 1.48.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period in the previous year, the company posted $0.48 EPS. On average, research analysts predict that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 16.33%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.58%.

BlackRock TCP Capital Company 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.