Callodine Capital Management LP Invests $1.36 Million in Blackrock Tcp Capital Corp. $TCPC

Callodine Capital Management LP acquired a new stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 377,726 shares of the investment management company’s stock, valued at approximately $1,364,000.

A number of other institutional investors have also made changes to their positions in TCPC. Next Capital Management LLC lifted its holdings in Blackrock Tcp Capital by 13.6% in the 1st quarter. Next Capital Management LLC now owns 3,049,547 shares of the investment management company’s stock worth $11,009,000 after purchasing an additional 366,008 shares during the last quarter. GatePass Capital LLC acquired a new position in Blackrock Tcp Capital during the first quarter valued at approximately $1,001,000. Barings LLC grew its holdings in Blackrock Tcp Capital by 4.5% during the first quarter. Barings LLC now owns 564,991 shares of the investment management company’s stock valued at $2,040,000 after purchasing an additional 24,376 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Blackrock Tcp Capital in the first quarter valued at approximately $172,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Blackrock Tcp Capital by 26.5% in the first quarter. Janney Montgomery Scott LLC now owns 76,429 shares of the investment management company’s stock valued at $276,000 after purchasing an additional 15,993 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TCPC. Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Blackrock Tcp Capital has a consensus rating of “Strong Sell” and a consensus price target of $3.50.

Blackrock Tcp Capital Price Performance

NASDAQ TCPC opened at $3.16 on Friday. The stock has a 50-day simple moving average of $3.48 and a 200 day simple moving average of $4.12. Blackrock Tcp Capital Corp. has a twelve month low of $3.08 and a twelve month high of $7.67. The stock has a market capitalization of $265.12 million, a PE ratio of -2.12 and a beta of 0.95. The company has a debt-to-equity ratio of 1.64, a quick ratio of 21.44 and a current ratio of 21.44.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, May 7th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $42.58 million for the quarter, compared to analyst estimates of $40.10 million. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%. Research analysts anticipate that Blackrock Tcp Capital Corp. will post 0.83 EPS for the current year.

Blackrock Tcp Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.17 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.68 annualized dividend and a dividend yield of 21.5%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -45.64%.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.