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

Van ECK Associates Corp grew its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 7.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,107,130 shares of the investment management company’s stock after buying an additional 143,667 shares during the period. Van ECK Associates Corp’s holdings in BlackRock TCP Capital were worth $17,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barings LLC increased its holdings in shares of BlackRock TCP Capital by 3,878.9% in 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 last quarter. Condor Capital Management bought a new stake in shares of BlackRock TCP Capital in the 1st quarter worth about $3,887,000. Transcend Capital Advisors LLC increased its holdings in shares of BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock worth $8,434,000 after buying an additional 297,393 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of BlackRock TCP Capital by 87.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company’s stock worth $1,930,000 after buying an additional 86,215 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of BlackRock TCP Capital by 40.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after buying an additional 63,509 shares during the last quarter.

Insider Buying and Selling at BlackRock TCP Capital

In related news, CEO Rajneesh Vig acquired 25,000 shares of the stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 42,000 shares of company stock valued at $381,875 in the last three months. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TCPC. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.83.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $7.80 on Wednesday. The company has a market capitalization of $667.60 million, a price-to-earnings ratio of -14.70 and a beta of 1.47. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $12.43. The firm’s 50-day moving average is $8.48 and its 200 day moving average is $9.77. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period in the previous year, the company earned $0.48 EPS. Research analysts predict that BlackRock TCP Capital Corp. will post 1.66 EPS for the current year.

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.