MeadowBrook Investment Advisors LLC Invests $79,000 in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,868 shares of the investment management company’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC bought a new position in shares of BlackRock TCP Capital during the 3rd quarter worth approximately $121,000. Axxcess Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the third quarter valued at approximately $122,000. Spire Wealth Management boosted its stake in BlackRock TCP Capital by 15.6% in the fourth quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after acquiring an additional 1,730 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in BlackRock TCP Capital by 73.2% in the fourth quarter. Signaturefd LLC now owns 13,490 shares of the investment management company’s stock worth $156,000 after purchasing an additional 5,700 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TCPC shares. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Wells Fargo & Company lifted their target price on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Oppenheimer lowered their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Six analysts have rated the stock with a hold rating, According to MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and an average target price of $11.00.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock traded up $0.17 during midday trading on Monday, reaching $10.45. The company had a trading volume of 418,290 shares, compared to its average volume of 477,313. The company has a market capitalization of $603.70 million, a P/E ratio of 29.57 and a beta of 1.42. BlackRock TCP Capital Corp. has a 12-month low of $9.90 and a 12-month high of $13.00. The firm’s fifty day simple moving average is $10.30 and its 200-day simple moving average is $11.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. The business had revenue of $55.73 million for the quarter, compared to analyst estimates of $50.99 million. During the same period last year, the company posted $0.44 EPS. As a group, equities analysts anticipate that BlackRock TCP Capital Corp. will post 1.71 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 13.01%. The ex-dividend date of this dividend is Friday, June 14th. BlackRock TCP Capital’s payout ratio is presently 388.58%.

About BlackRock TCP Capital

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.