Disciplined Investments LLC Makes New Investment in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Disciplined Investments LLC purchased a new position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the investment management company’s stock, valued at approximately $108,000.

A number of other hedge funds have also modified their holdings of the company. Barings LLC boosted its position in shares of BlackRock TCP Capital by 3,878.9% in the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of BlackRock TCP Capital by 7.6% in the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after buying an additional 33,147 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after buying an additional 284,802 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of BlackRock TCP Capital by 171.4% in the second quarter. Commonwealth Equity Services LLC now owns 49,590 shares of the investment management company’s stock worth $536,000 after buying an additional 31,321 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital in the second quarter worth $60,000.

Insider Activity

In other news, CEO Rajneesh Vig bought 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Philip M. Tseng bought 5,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now owns 17,481 shares in the company, valued at approximately $158,552.67. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 42,000 shares of company stock valued at $381,875. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Wells Fargo & Company downgraded shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $8.50 to $8.00 in a report on Monday, August 26th. Keefe, Bruyette & Woods lowered their target price 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. Finally, LADENBURG THALM/SH SH downgraded shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.00.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $8.50 on Wednesday. The company has a market cap of $727.52 million, a price-to-earnings ratio of 24.29 and a beta of 1.48. The firm’s fifty day moving average is $9.73 and its 200 day moving average is $10.27. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a 52-week low of $8.42 and a 52-week high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.68 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 16.00%. The ex-dividend date of this dividend is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is currently 388.57%.

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.