Advisors Asset Management Inc. Buys 11,987 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Advisors Asset Management Inc. boosted its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,206 shares of the investment management company’s stock after acquiring an additional 11,987 shares during the period. Advisors Asset Management Inc. owned 0.25% of BlackRock TCP Capital worth $2,245,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TCPC. Raymond James & Associates lifted its position in BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after acquiring an additional 51,766 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in BlackRock TCP Capital by 16.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock valued at $2,174,000 after acquiring an additional 27,105 shares during the period. Arkadios Wealth Advisors lifted its position in BlackRock TCP Capital by 1.8% during the 4th quarter. Arkadios Wealth Advisors now owns 101,178 shares of the investment management company’s stock valued at $1,168,000 after acquiring an additional 1,772 shares during the period. Grimes & Company Inc. purchased a new position in BlackRock TCP Capital in the fourth quarter worth about $165,000. Finally, International Assets Investment Management LLC raised its holdings in BlackRock TCP Capital by 1,054.0% in the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after buying an additional 376,278 shares during the last quarter.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $10.81 on Friday. The firm has a market capitalization of $925.23 million, a price-to-earnings ratio of 30.89 and a beta of 1.49. BlackRock TCP Capital Corp. has a 12-month low of $9.90 and a 12-month high of $13.00. The firm has a 50 day moving average of $10.92 and a 200 day moving average of $10.79. The company has a current ratio of 19.05, a quick ratio of 19.05 and a debt-to-equity ratio of 1.37.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $55.73 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.44 earnings per share. On average, research analysts anticipate that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.34 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.58%. BlackRock TCP Capital’s payout ratio is currently 388.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Oppenheimer decreased their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target 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.