BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Sanctuary Wealth Management L.L.C.

Sanctuary Wealth Management L.L.C. decreased its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 17.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,361 shares of the investment management company’s stock after selling 2,947 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in BlackRock TCP Capital were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCPC. Barings LLC raised its holdings in BlackRock TCP Capital by 3,878.9% in the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Condor Capital Management purchased a new position in shares of BlackRock TCP Capital during the 1st quarter worth approximately $3,887,000. Transcend Capital Advisors LLC increased its holdings in BlackRock TCP Capital by 61.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after purchasing an additional 297,393 shares during the last quarter. Van ECK Associates Corp raised its position in 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 valued at $21,205,000 after purchasing an additional 284,802 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in BlackRock TCP Capital by 40.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after purchasing an additional 63,509 shares in the last quarter.

Insider Activity at BlackRock TCP Capital

In other news, Director Philip M. Tseng purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company’s stock, valued at $250,077.10. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock TCP Capital news, Director Philip M. Tseng acquired 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Philip M. Tseng bought 5,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the acquisition, the director now directly owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 42,000 shares of company stock valued at $381,875 in the last ninety days. Insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Trading Down 0.6 %

Shares of NASDAQ:TCPC traded down $0.05 during trading hours on Friday, reaching $8.66. The stock had a trading volume of 513,209 shares, compared to its average volume of 604,466. The firm’s 50 day moving average is $8.43 and its 200-day moving average is $9.72. BlackRock TCP Capital Corp. has a 1 year low of $7.71 and a 1 year high of $12.43. The company has a current ratio of 39.37, a quick ratio of 44.47 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The business had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.44 dividend. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 20.32%. BlackRock TCP Capital’s dividend payout ratio is presently -271.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TCPC. Wells Fargo & Company lifted their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Thursday. 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 research report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and an average target price of $9.00.

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.