Muzinich & Co. Inc. Cuts Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Muzinich & Co. Inc. lowered its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,904 shares of the investment management company’s stock after selling 8,350 shares during the period. BlackRock TCP Capital comprises 1.3% of Muzinich & Co. Inc.’s portfolio, making the stock its 20th largest holding. Muzinich & Co. Inc. owned 0.25% of BlackRock TCP Capital worth $1,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital during the 3rd quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in BlackRock TCP Capital in the 2nd quarter valued at approximately $60,000. Pathway Financial Advisers LLC raised its holdings in BlackRock TCP Capital by 729.0% during the third quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after purchasing an additional 6,379 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in BlackRock TCP Capital by 22.2% in the third quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in BlackRock TCP Capital in the third quarter valued at $100,000.

Insider Buying and Selling

In related news, Director Philip M. Tseng acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares in the company, valued at $250,077.10. The trade was a 57.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. The trade was a 23.60 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 42,000 shares of company stock worth $381,875. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and an average target price of $9.00.

BlackRock TCP Capital Stock Up 2.1 %

BlackRock TCP Capital stock opened at $8.96 on Friday. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $12.43. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average is $8.39 and its two-hundred day moving average is $9.68.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. During the same quarter last year, the business posted $0.49 EPS. On average, equities analysts anticipate 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 will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.44 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 19.64%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s payout ratio is currently -271.99%.

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.