Paloma Partners Management Co Makes New $608,000 Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Paloma Partners Management Co acquired a new position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,294 shares of the investment management company's stock, valued at approximately $608,000. Paloma Partners Management Co owned 0.09% of BlackRock TCP Capital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of BlackRock TCP Capital in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock TCP Capital in the 2nd quarter valued at approximately $60,000. Pathway Financial Advisers LLC grew its stake in shares of BlackRock TCP Capital by 729.0% in the 3rd 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. Quantbot Technologies LP bought a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at approximately $79,000. Finally, Disciplined Investments LLC bought a new stake in BlackRock TCP Capital during the second quarter worth approximately $108,000.

BlackRock TCP Capital Stock Up 1.5 %

Shares of NASDAQ:TCPC traded up $0.14 during trading on Wednesday, hitting $9.33. 305,975 shares of the company were exchanged, compared to its average volume of 502,835. The stock has a market cap of $798.55 million, a price-to-earnings ratio of -18.38 and a beta of 1.50. BlackRock TCP Capital Corp. has a fifty-two week low of $7.71 and a fifty-two week high of $12.43. The firm has a fifty day moving average price of $8.50 and a two-hundred day moving average price of $9.55. 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 (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm had revenue of $70.93 million during 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 quarter last year, the firm earned $0.49 earnings per share. As a group, research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from BlackRock TCP Capital's previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 18.86%. BlackRock TCP Capital's payout ratio is currently -271.99%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring purchased 4,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $9.30 per share, with a total value of $41,850.00. Following the acquisition, the president now owns 19,914 shares of the company's stock, valued at approximately $185,200.20. This represents a 29.19 % 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 purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the acquisition, the director now directly owns 27,481 shares in the company, valued at $250,077.10. This represents a 57.20 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 19,500 shares of company stock valued at $178,200 in the last three months. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TCPC. Wells Fargo & Company upped their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research note on Thursday, August 8th. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.00.

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.