Van ECK Associates Corp Purchases 143,667 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Van ECK Associates Corp lifted its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 7.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,107,130 shares of the investment management company's stock after buying an additional 143,667 shares during the quarter. Van ECK Associates Corp owned about 2.46% of BlackRock TCP Capital worth $17,257,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TCPC. Barings LLC increased its position in BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company's stock worth $188,922,000 after acquiring an additional 17,053,151 shares during the period. Condor Capital Management bought a new position in BlackRock TCP Capital in the 1st quarter valued at about $3,887,000. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company's stock valued at $8,434,000 after buying an additional 297,393 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in BlackRock TCP Capital by 87.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 185,041 shares of the investment management company's stock valued at $1,930,000 after buying an additional 86,215 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in BlackRock TCP Capital by 40.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company's stock valued at $2,364,000 after buying an additional 63,509 shares during the period.

Insider Activity

In related news, CEO Rajneesh Vig acquired 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares of the company's stock, valued at $1,190,153.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 5,000 shares of the firm's stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the purchase, the director now owns 17,481 shares of the company's stock, valued at $158,552.67. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajneesh Vig purchased 25,000 shares of the firm's stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 42,000 shares of company stock worth $381,875 in the last quarter. 0.16% of the stock is owned by corporate insiders.

BlackRock TCP Capital Trading Up 9.6 %

NASDAQ:TCPC traded up $0.75 during mid-day trading on Wednesday, hitting $8.55. 1,675,679 shares of the company's stock were exchanged, compared to its average volume of 498,042. The company has a 50 day simple moving average of $8.45 and a 200-day simple moving average of $9.75. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. 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 market capitalization of $731.79 million, a P/E ratio of -16.17 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, research analysts expect that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

TCPC has been the topic of several recent analyst reports. StockNews.com lowered shares of BlackRock TCP Capital from a "hold" rating to a "sell" rating in a report on Thursday, August 15th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods decreased 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 report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.83.

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.