Muzinich & Co. Inc. Cuts Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Muzinich & Co. Inc. lowered its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 215,904 shares of the investment management company’s stock after selling 8,350 shares during the quarter. BlackRock TCP Capital comprises approximately 1.3% of Muzinich & Co. Inc.’s portfolio, making the stock its 20th largest holding. Muzinich & Co. Inc.’s holdings in BlackRock TCP Capital were worth $1,790,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TCPC. Future Financial Wealth Managment LLC acquired a new stake in BlackRock TCP Capital in the 3rd quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth about $60,000. Pathway Financial Advisers LLC grew its stake in shares of BlackRock TCP Capital by 729.0% in the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock valued at $60,000 after buying an additional 6,379 shares in the last quarter. MeadowBrook Investment Advisors LLC raised its holdings in shares of BlackRock TCP Capital by 22.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after buying an additional 1,970 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $100,000.

BlackRock TCP Capital Stock Up 2.1 %

NASDAQ TCPC opened at $8.96 on Friday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $12.43. The company’s fifty day moving average price is $8.39 and its two-hundred day moving average price is $9.68.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same period in the previous year, the business posted $0.49 EPS. Equities analysts anticipate that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.64%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is -271.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TCPC. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Wells Fargo & Company upped their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Insider Activity at BlackRock TCP Capital

In related news, Director Philip M. Tseng bought 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the acquisition, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. This trade represents a 57.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajneesh Vig purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The trade was a 23.60 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 42,000 shares of company stock valued at $381,875. Corporate insiders own 0.16% of the company’s stock.

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.