Blackrock Tcp Capital Corp. $TCPC Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 31.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 200,038 shares of the investment management company’s stock after selling 90,436 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Blackrock Tcp Capital were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new stake in Blackrock Tcp Capital during the 2nd quarter worth about $30,000. MTM Investment Management LLC acquired a new position in shares of Blackrock Tcp Capital in the 2nd quarter valued at about $46,000. Creative Planning purchased a new stake in shares of Blackrock Tcp Capital in the second quarter worth about $85,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Blackrock Tcp Capital by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,656 shares of the investment management company’s stock worth $91,000 after buying an additional 1,352 shares during the last quarter. Finally, Midwest Trust Co acquired a new stake in Blackrock Tcp Capital during the second quarter worth about $96,000.

Analyst Upgrades and Downgrades

TCPC has been the subject of a number of analyst reports. Zacks Research raised Blackrock Tcp Capital from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Blackrock Tcp Capital in a report on Monday, December 29th. Finally, Wells Fargo & Company cut their price objective on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Blackrock Tcp Capital presently has an average rating of “Hold” and an average price target of $6.50.

Blackrock Tcp Capital Trading Up 0.2%

Shares of NASDAQ:TCPC opened at $5.58 on Friday. The business’s 50 day moving average price is $5.72 and its 200-day moving average price is $6.46. Blackrock Tcp Capital Corp. has a 1 year low of $5.29 and a 1 year high of $9.48. The firm has a market capitalization of $473.41 million, a price-to-earnings ratio of -42.92 and a beta of 0.89. The company has a debt-to-equity ratio of 1.42, a current ratio of 14.55 and a quick ratio of 14.55.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, November 6th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%.The company had revenue of $50.52 million for the quarter, compared to analyst estimates of $51.01 million. On average, equities research analysts forecast that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Blackrock Tcp Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 17.9%. The ex-dividend date was Wednesday, December 17th. Blackrock Tcp Capital’s payout ratio is presently -769.23%.

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.