Arkadios Wealth Advisors Sells 1,334 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Arkadios Wealth Advisors lowered its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,284 shares of the investment management company’s stock after selling 1,334 shares during the period. Arkadios Wealth Advisors owned 0.09% of BlackRock TCP Capital worth $835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in BlackRock TCP Capital by 58.5% during the 1st quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after purchasing an additional 619,519 shares in the last quarter. Confluence Investment Management LLC bought a new stake in BlackRock TCP Capital during the first quarter worth $4,172,000. International Assets Investment Management LLC raised its position in BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after buying an additional 376,278 shares during the last quarter. Condor Capital Management bought a new position in BlackRock TCP Capital during the 1st quarter valued at $3,887,000. Finally, Transcend Capital Advisors LLC grew its stake in shares of 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 worth $8,434,000 after acquiring an additional 297,393 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TCPC. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Oppenheimer reduced their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company cut 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 research note on Monday. Finally, StockNews.com downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.00.

BlackRock TCP Capital Price Performance

Shares of TCPC stock traded up $0.13 during trading hours on Friday, hitting $9.18. 77,843 shares of the company’s stock were exchanged, compared to its average volume of 457,365. BlackRock TCP Capital Corp. has a 12-month low of $8.59 and a 12-month high of $12.59. The company has a market capitalization of $785.72 million, a PE ratio of 25.86 and a beta of 1.49. The business’s 50 day simple moving average is $10.15 and its 200-day simple moving average is $10.45. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $71.53 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.48 earnings per share. On average, equities research analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

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 issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 14.81%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s dividend payout ratio is 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.