Next Capital Management LLC Increases Stock Position in Blackrock Tcp Capital Corp. $TCPC

Next Capital Management LLC increased its position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 111.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,401,416 shares of the investment management company’s stock after buying an additional 1,266,590 shares during the period. Blackrock Tcp Capital comprises approximately 5.0% of Next Capital Management LLC’s holdings, making the stock its 3rd largest position. Next Capital Management LLC owned 2.82% of Blackrock Tcp Capital worth $14,889,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Marshall Wace LLP bought a new stake in Blackrock Tcp Capital during the second quarter valued at about $4,045,000. North Ground Capital purchased a new stake in shares of Blackrock Tcp Capital during the third quarter worth about $3,100,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Blackrock Tcp Capital by 6.1% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 417,991 shares of the investment management company’s stock valued at $3,219,000 after purchasing an additional 23,875 shares during the period. LSV Asset Management raised its stake in Blackrock Tcp Capital by 1.8% during the 2nd quarter. LSV Asset Management now owns 361,470 shares of the investment management company’s stock valued at $2,783,000 after purchasing an additional 6,323 shares during the period. Finally, GraniteShares Advisors LLC lifted its holdings in Blackrock Tcp Capital by 9.7% in the 3rd quarter. GraniteShares Advisors LLC now owns 350,722 shares of the investment management company’s stock worth $2,174,000 after purchasing an additional 30,889 shares in the last quarter.

Blackrock Tcp Capital Trading Down 2.9%

TCPC stock opened at $4.94 on Friday. The firm has a fifty day moving average price of $5.62 and a 200 day moving average price of $6.16. Blackrock Tcp Capital Corp. has a fifty-two week low of $4.88 and a fifty-two week high of $9.48. The firm has a market cap of $419.11 million, a PE ratio of -38.00 and a beta of 0.89. The company has a debt-to-equity ratio of 1.42, a quick ratio of 14.55 and a current ratio of 14.55.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, November 6th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Blackrock Tcp Capital had a negative net margin of 4.20% and a positive return on equity of 15.27%. The business had revenue of $50.52 million for the quarter, compared to the consensus estimate of $51.01 million. Sell-side analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TCPC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Blackrock Tcp Capital in a report on Monday, December 29th. Zacks Research lowered shares of Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $6.50.

Blackrock Tcp Capital Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.