LSV Asset Management Sells 102,300 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

LSV Asset Management lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,147 shares of the investment management company's stock after selling 102,300 shares during the quarter. LSV Asset Management owned approximately 0.21% of BlackRock TCP Capital worth $1,560,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TCPC. Raymond James Financial Inc. bought a new position in shares of BlackRock TCP Capital during the 4th quarter valued at approximately $886,000. Envestnet Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after buying an additional 481,581 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of BlackRock TCP Capital during the 4th quarter valued at $161,000. TrueMark Investments LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth $5,268,000. Finally, Samalin Investment Counsel LLC increased its holdings in BlackRock TCP Capital by 68.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company's stock worth $922,000 after acquiring an additional 42,827 shares during the last quarter.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC traded up $0.15 during trading hours on Friday, hitting $6.79. The stock had a trading volume of 492,654 shares, compared to its average volume of 573,716. The firm has a market capitalization of $577.67 million, a price-to-earnings ratio of -13.58 and a beta of 1.21. BlackRock TCP Capital Corp. has a one year low of $6.27 and a one year high of $11.52. The company has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $8.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 14.73%. BlackRock TCP Capital's dividend payout ratio is currently -133.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.33.

Insider Buying and Selling at BlackRock TCP Capital

In related news, COO Patrick Wolfe acquired 6,100 shares of the company's stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares of the company's stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip M. Tseng bought 10,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now owns 38,587 shares of the company's stock, valued at $298,663.38. The trade was a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,500 shares of company stock valued at $146,444 in the last 90 days. Corporate insiders own 0.16% of the company's stock.

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.