Paloma Partners Management Co Invests $608,000 in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Paloma Partners Management Co bought a new stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 73,294 shares of the investment management company’s stock, valued at approximately $608,000. Paloma Partners Management Co owned about 0.09% of BlackRock TCP Capital at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC grew its holdings in BlackRock TCP Capital by 13.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company’s stock valued at $562,000 after buying an additional 8,238 shares during the period. Quantbot Technologies LP purchased a new stake in BlackRock TCP Capital in the third quarter valued at approximately $79,000. D.A. Davidson & CO. increased its position in BlackRock TCP Capital by 3.7% during the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after purchasing an additional 17,218 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in BlackRock TCP Capital by 91.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock worth $248,000 after purchasing an additional 14,245 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its stake in 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 worth $90,000 after purchasing an additional 1,970 shares during the period.

BlackRock TCP Capital Trading Down 1.2 %

Shares of NASDAQ TCPC opened at $9.19 on Wednesday. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 1-year low of $7.71 and a 1-year high of $12.43. The business has a 50-day moving average of $8.48 and a 200-day moving average of $9.56.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.13 million. During the same quarter in the prior year, the company earned $0.49 EPS. As a group, equities analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.44 per share. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 annualized dividend and a yield of 19.15%. BlackRock TCP Capital’s payout ratio is -271.99%.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, BlackRock TCP Capital presently has a consensus rating of “Hold” and an average target price of $9.00.

Insiders Place Their Bets

In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the purchase, the director now owns 27,481 shares in the company, valued at $250,077.10. The trade was a 57.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jason Mehring acquired 4,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the purchase, the president now owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 19,500 shares of company stock worth $178,200 in the last quarter. 0.16% of the stock is owned by corporate insiders.

BlackRock TCP Capital 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.