Hennion & Walsh Asset Management Inc. Purchases 44,452 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Hennion & Walsh Asset Management Inc. lifted its holdings in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,124 shares of the investment management company’s stock after purchasing an additional 44,452 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in BlackRock TCP Capital were worth $4,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Spire Wealth Management grew its stake in shares of BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 1,730 shares during the period. Confluence Investment Management LLC bought a new position in BlackRock TCP Capital in the first quarter worth approximately $4,172,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of BlackRock TCP Capital by 16.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock worth $2,174,000 after acquiring an additional 27,105 shares during the last quarter. Raymond James & Associates grew its position in shares of BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after acquiring an additional 51,766 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of BlackRock TCP Capital by 1,710.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,218 shares of the investment management company’s stock worth $425,000 after purchasing an additional 34,218 shares in the last quarter.

Analyst Ratings Changes

TCPC has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Raymond James downgraded shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Finally, Oppenheimer decreased their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.67.

BlackRock TCP Capital Price Performance

TCPC stock traded down $0.04 during mid-day trading on Friday, hitting $10.80. The company had a trading volume of 475,669 shares, compared to its average volume of 412,009. The company has a 50-day moving average price of $10.74 and a 200 day moving average price of $10.92. BlackRock TCP Capital Corp. has a 12-month low of $9.90 and a 12-month high of $13.00. The company has a market capitalization of $924.38 million, a price-to-earnings ratio of 30.86 and a beta of 1.47. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The company had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. During the same period in the prior year, the company earned $0.44 earnings per share. On average, research analysts anticipate that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.59%. The ex-dividend date was Friday, June 14th. BlackRock TCP Capital’s payout ratio is 388.57%.

BlackRock TCP Capital Company 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.