Barings LLC Purchases 22,675 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Barings LLC increased its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 480,322 shares of the investment management company’s stock after purchasing an additional 22,675 shares during the quarter. Barings LLC’s holdings in BlackRock TCP Capital were worth $4,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the fourth quarter worth $38,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital in the third quarter worth $46,000. Quantbot Technologies LP bought a new position in BlackRock TCP Capital in the third quarter worth $79,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of BlackRock TCP Capital by 22.2% during the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 1,970 shares during the period. Finally, Verdence Capital Advisors LLC bought a new position in shares of BlackRock TCP Capital during the third quarter valued at $100,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TCPC. Wells Fargo & Company cut their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, February 28th. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods cut their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, BlackRock TCP Capital presently has an average rating of “Hold” and a consensus price target of $8.67.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $8.32 on Friday. BlackRock TCP Capital Corp. has a twelve month low of $7.71 and a twelve month high of $11.52. The firm has a market cap of $707.84 million, a PE ratio of -16.64 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The business has a fifty day moving average of $8.92 and a 200-day moving average of $8.78.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.02%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

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.