Van ECK Associates Corp Grows Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Van ECK Associates Corp lifted its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,202,733 shares of the investment management company’s stock after buying an additional 95,603 shares during the period. Van ECK Associates Corp owned approximately 2.57% of BlackRock TCP Capital worth $19,186,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TCPC. MeadowBrook Investment Advisors LLC raised its stake in shares of BlackRock TCP Capital by 22.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after buying an additional 1,970 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in BlackRock TCP Capital by 18.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after acquiring an additional 2,350 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in BlackRock TCP Capital by 33.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company’s stock worth $139,000 after purchasing an additional 4,000 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter worth approximately $38,000. Finally, McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital during the 3rd quarter valued at approximately $46,000.

BlackRock TCP Capital Trading Up 1.3 %

Shares of TCPC stock opened at $9.41 on Friday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $8.94 and its 200-day moving average price is $8.84. BlackRock TCP Capital Corp. has a twelve month low of $7.71 and a twelve month high of $11.52. The stock has a market cap of $805.40 million, a price-to-earnings ratio of -18.82 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TCPC. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.00.

Insider Buying and Selling at BlackRock TCP Capital

In related news, President Jason Mehring bought 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the acquisition, the president now owns 19,914 shares of the company’s stock, valued at approximately $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

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.