Confluence Investment Management LLC Decreases Stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Confluence Investment Management LLC reduced its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 87.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,697 shares of the investment management company's stock after selling 232,551 shares during the quarter. Confluence Investment Management LLC's holdings in BlackRock TCP Capital were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital during the 3rd quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of BlackRock TCP Capital in the 2nd quarter valued at about $60,000. Pathway Financial Advisers LLC increased its stake in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company's stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter. Accel Wealth Management acquired a new stake in BlackRock TCP Capital in the 2nd quarter valued at about $108,000. Finally, Catalina Capital Group LLC bought a new position in BlackRock TCP Capital during the second quarter worth about $108,000.

Insider Activity

In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now owns 27,481 shares of the company's stock, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the transaction, the director now directly owns 27,481 shares of the company's stock, valued at approximately $250,077.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng acquired 5,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now owns 17,481 shares in the company, valued at $158,552.67. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 42,000 shares of company stock valued at $381,875. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an "underweight" rating in a report on Thursday. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a report on Thursday, August 8th. Finally, StockNews.com raised BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.00.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock traded down $0.05 during trading on Friday, reaching $8.66. 513,209 shares of the stock were exchanged, compared to its average volume of 604,466. BlackRock TCP Capital Corp. has a 1 year low of $7.71 and a 1 year high of $12.43. The company has a debt-to-equity ratio of 1.34, a quick ratio of 44.47 and a current ratio of 39.37. The stock's fifty day moving average is $8.43 and its 200 day moving average is $9.72.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last announced its 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). The business had revenue of $70.93 million for the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts predict that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 17th. This is an increase from BlackRock TCP Capital's previous quarterly dividend of $0.34. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.32%. BlackRock TCP Capital's payout ratio is -271.99%.

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.