BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,950 shares of the investment management company’s stock after selling 15,322 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BlackRock TCP Capital were worth $2,030,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Morton Brown Family Wealth LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth about $121,000. Axxcess Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth about $122,000. Grimes & Company Inc. acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth about $165,000. Finally, Quantbot Technologies LP lifted its position in shares of BlackRock TCP Capital by 310.1% during the third quarter. Quantbot Technologies LP now owns 16,197 shares of the investment management company’s stock worth $190,000 after purchasing an additional 12,247 shares in the last quarter.

Wall Street Analyst Weigh In

TCPC has been the topic of several research reports. Raymond James cut shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Oppenheimer reissued a “market perform” rating and set a $11.00 price target (down previously from $13.00) on shares of BlackRock TCP Capital in a research report on Wednesday, March 6th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company increased their price target on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.25.

BlackRock TCP Capital Stock Down 0.1 %

TCPC stock opened at $10.02 on Thursday. The company’s 50 day moving average price is $10.44 and its 200 day moving average price is $11.08. The company has a debt-to-equity ratio of 1.43, a quick ratio of 30.47 and a current ratio of 30.47. BlackRock TCP Capital Corp. has a fifty-two week low of $9.61 and a fifty-two week high of $13.00. The firm has a market capitalization of $578.86 million, a price-to-earnings ratio of 15.18 and a beta of 1.43.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. The firm had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. On average, equities research analysts anticipate that BlackRock TCP Capital Corp. will post 1.73 EPS for the current fiscal year.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.36 annualized dividend and a yield of 13.57%. BlackRock TCP Capital’s dividend payout ratio is currently 206.06%.

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.