GraniteShares Advisors LLC bought a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 281,676 shares of the investment management company's stock, valued at approximately $2,453,000. GraniteShares Advisors LLC owned approximately 0.33% of BlackRock TCP Capital at the end of the most recent quarter.
A number of other large investors have also modified their holdings of TCPC. Avior Wealth Management LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $46,000. Pathway Financial Advisers LLC raised 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 buying an additional 6,379 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $79,000. Finally, MeadowBrook Investment Advisors LLC grew its holdings in shares of BlackRock TCP Capital by 22.2% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company's stock worth $90,000 after acquiring an additional 1,970 shares during the period.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lowered their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Monday, November 18th. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $8.67.
View Our Latest Analysis on BlackRock TCP Capital
BlackRock TCP Capital Price Performance
NASDAQ:TCPC remained flat at $8.44 during trading hours on Friday. The company's stock had a trading volume of 1,420,768 shares, compared to its average volume of 553,627. The firm's fifty day simple moving average is $8.97 and its 200-day simple moving average is $8.81. The stock has a market capitalization of $722.39 million, a PE ratio of -16.88 and a beta of 1.50. 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 Corp. has a 52-week low of $7.71 and a 52-week high of $11.52.
BlackRock TCP Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.85%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital's dividend payout ratio is presently -272.00%.
BlackRock TCP Capital Profile
(
Free Report)
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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