Paloma Partners Management Co Acquires New Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Paloma Partners Management Co acquired a new stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,213 shares of the investment management company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of BlackRock TCP Capital by 58.5% in the first quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock valued at $17,508,000 after purchasing an additional 619,519 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in BlackRock TCP Capital by 11.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 449,124 shares of the investment management company’s stock worth $4,684,000 after acquiring an additional 44,452 shares during the last quarter. International Assets Investment Management LLC boosted its position in BlackRock TCP Capital by 1,054.0% during 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 acquiring an additional 376,278 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in BlackRock TCP Capital during the first quarter worth approximately $4,172,000. Finally, D.A. Davidson & CO. boosted its position in BlackRock TCP Capital by 10.3% during the fourth quarter. D.A. Davidson & CO. now owns 382,617 shares of the investment management company’s stock worth $4,415,000 after acquiring an additional 35,753 shares during the last quarter.

BlackRock TCP Capital Trading Down 0.2 %

NASDAQ:TCPC traded down $0.02 during trading hours on Monday, reaching $10.79. 216,093 shares of the company were exchanged, compared to its average volume of 427,423. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The firm has a market cap of $923.52 million, a price-to-earnings ratio of 30.83 and a beta of 1.49. BlackRock TCP Capital Corp. has a 52-week low of $9.90 and a 52-week high of $13.00. The stock has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $10.78.

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 company had revenue of $55.73 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.44 earnings per share. As a group, analysts predict that BlackRock TCP Capital Corp. will post 1.71 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.60%. The ex-dividend date of this dividend was Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research 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 on the stock in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, According to MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus target price 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.