BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stake Boosted by Ignite Planners LLC

Ignite Planners LLC increased its stake in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,121 shares of the investment management company’s stock after purchasing an additional 9,655 shares during the period. Ignite Planners LLC’s holdings in BlackRock TCP Capital were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock valued at $17,257,000 after buying an additional 143,667 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth about $608,000. EP Wealth Advisors LLC bought a new stake in BlackRock TCP Capital in the 3rd quarter valued at about $526,000. J.W. Cole Advisors Inc. acquired a new position in BlackRock TCP Capital during the 3rd quarter valued at about $431,000. Finally, Verus Capital Partners LLC bought a new position in BlackRock TCP Capital in the 3rd quarter worth about $392,000.

BlackRock TCP Capital Stock Performance

TCPC opened at $8.54 on Tuesday. The business has a 50 day moving average price of $8.89 and a two-hundred day moving average price of $9.12. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The company has a market capitalization of $730.95 million, a price-to-earnings ratio of -17.08 and a beta of 1.50. BlackRock TCP Capital Corp. has a 1-year low of $7.71 and a 1-year high of $11.77.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The firm had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. During the same quarter last year, the company earned $0.49 EPS. Research analysts predict that BlackRock TCP Capital Corp. will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.44 per share. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 20.61%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -272.00%.

Analysts Set New Price Targets

TCPC has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Insider Transactions at BlackRock TCP Capital

In related news, President Jason Mehring purchased 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the transaction, the president now directly owns 19,914 shares of the company’s stock, valued at $185,200.20. This trade represents a 29.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.