Columbus Macro LLC Takes $4.18 Million Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Columbus Macro LLC purchased a new stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 479,611 shares of the investment management company’s stock, valued at approximately $4,177,000.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of BlackRock TCP Capital by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after acquiring an additional 143,667 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of BlackRock TCP Capital in the third quarter worth about $608,000. EP Wealth Advisors LLC acquired a new position in BlackRock TCP Capital in the 3rd quarter worth about $526,000. J.W. Cole Advisors Inc. purchased a new stake in BlackRock TCP Capital during the 3rd quarter worth approximately $431,000. Finally, Verus Capital Partners LLC acquired a new position in BlackRock TCP Capital during the third quarter worth about $392,000.

Analysts Set New Price Targets

Several analysts recently weighed in on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.00.

Insider Buying and Selling

In other news, President Jason Mehring bought 4,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the purchase, the president now owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $9.11 on Tuesday. The company’s 50-day moving average is $8.97 and its two-hundred day moving average is $8.93. BlackRock TCP Capital Corp. has a 1 year low of $7.71 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $69.13 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, research analysts expect that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given 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 was Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 19.32%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -271.99%.

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.