Envestnet Asset Management Inc. Grows Stock Holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Envestnet Asset Management Inc. grew its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 623.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 558,815 shares of the investment management company's stock after buying an additional 481,581 shares during the quarter. Envestnet Asset Management Inc. owned 0.65% of BlackRock TCP Capital worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. ExodusPoint Capital Management LP acquired a new position in BlackRock TCP Capital in the 4th quarter valued at about $161,000. TrueMark Investments LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $5,268,000. Samalin Investment Counsel LLC increased its stake in BlackRock TCP Capital by 68.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company's stock worth $922,000 after buying an additional 42,827 shares during the period. Virtu Financial LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter worth approximately $329,000. Finally, VSM Wealth Advisory LLC acquired a new stake in BlackRock TCP Capital during the 4th quarter worth approximately $84,000.

Analyst Upgrades and Downgrades

Several research firms have commented on TCPC. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on 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. Finally, StockNews.com raised 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 company. Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of "Hold" and a consensus price target of $8.33.

Insiders Place Their Bets

In related news, COO Patrick Wolfe acquired 6,100 shares of the business's stock in a transaction on Friday, March 14th. The shares were bought at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the acquisition, the chief operating officer now owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Philip M. Tseng acquired 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $298,663.38. The trade was a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 18,500 shares of company stock valued at $146,444 in the last ninety days. Insiders own 0.16% of the company's stock.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $6.77 on Wednesday. The firm has a market capitalization of $575.97 million, a price-to-earnings ratio of -13.54 and a beta of 1.21. The firm's fifty day simple moving average is $7.88 and its 200-day simple moving average is $8.47. BlackRock TCP Capital Corp. has a twelve month low of $6.27 and a twelve month high of $11.52. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.77%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital's dividend payout ratio is presently -133.33%.

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.

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