Van ECK Associates Corp Has $19.19 Million Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Van ECK Associates Corp boosted its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,202,733 shares of the investment management company's stock after purchasing an additional 95,603 shares during the quarter. Van ECK Associates Corp owned approximately 2.57% of BlackRock TCP Capital worth $19,186,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $38,000. McIlrath & Eck LLC acquired a new stake in BlackRock TCP Capital in the third quarter valued at $46,000. Pathway Financial Advisers LLC raised its stake in BlackRock TCP Capital by 729.0% in the third 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 acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth about $79,000. Finally, MeadowBrook Investment Advisors LLC increased its position in 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 valued at $90,000 after acquiring an additional 1,970 shares during the period.

BlackRock TCP Capital Stock Performance

TCPC traded up $0.02 on Wednesday, hitting $9.42. The company had a trading volume of 608,278 shares, compared to its average volume of 470,151. BlackRock TCP Capital Corp. has a 1-year low of $7.71 and a 1-year high of $11.52. The stock has a market cap of $806.26 million, a price-to-earnings ratio of -18.84 and a beta of 1.50. The company's fifty day moving average price is $8.94 and its 200 day moving average price is $8.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.00.

Insider Activity

In other news, President Jason Mehring purchased 4,500 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares of the company's stock, valued at $185,200.20. The trade was a 29.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

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.