Cerity Partners LLC Sells 3,000 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Cerity Partners LLC reduced its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,369 shares of the investment management company’s stock after selling 3,000 shares during the period. Cerity Partners LLC’s holdings in BlackRock TCP Capital were worth $1,031,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Barings LLC boosted its holdings in shares of BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after buying an additional 17,053,151 shares during the period. Van ECK Associates Corp increased its holdings in BlackRock TCP Capital by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in BlackRock TCP Capital by 40.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock valued at $2,364,000 after purchasing an additional 63,509 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of BlackRock TCP Capital by 12.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock worth $5,442,000 after buying an additional 54,786 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at approximately $431,000.

Analyst Ratings Changes

A number of brokerages have recently commented on TCPC. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Insider Transactions at BlackRock TCP Capital

In other news, President Jason Mehring bought 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the president now directly owns 19,914 shares in the company, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip M. Tseng purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 40.06 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 19,500 shares of company stock valued at $178,200 over the last ninety days. 0.16% of the stock is currently owned by insiders.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $9.33 on Thursday. The company has a market cap of $798.55 million, a P/E ratio of -18.38 and a beta of 1.50. The company has a fifty day simple moving average of $8.50 and a 200 day simple moving average of $9.55. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.44 per share. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a yield of 18.86%. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is currently -271.99%.

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.