BlackRock TCP Capital Corp. (NASDAQ:TCPC) Shares Sold by Condor Capital Management

Condor Capital Management decreased its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 95.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,621 shares of the investment management company’s stock after selling 355,088 shares during the quarter. Condor Capital Management’s holdings in BlackRock TCP Capital were worth $190,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in BlackRock TCP Capital during the 1st quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of BlackRock TCP Capital in the first quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital during the second quarter worth approximately $60,000. Tucker Asset Management LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter valued at $74,000. Finally, Cape Investment Advisory Inc. purchased a new stake in BlackRock TCP Capital in the 4th quarter valued at $74,000.

Analysts Set New Price Targets

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

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $8.97 on Friday. The stock has a market capitalization of $767.74 million, a price-to-earnings ratio of 25.63 and a beta of 1.48. The business’s 50 day moving average is $9.77 and its two-hundred day moving average is $10.29. BlackRock TCP Capital Corp. has a 12-month low of $8.59 and a 12-month high of $12.43. 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 announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Research analysts expect that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 15.16%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Insider Activity at BlackRock TCP Capital

In related news, Director Philip M. Tseng bought 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought 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 owns 17,481 shares in the company, valued at approximately $158,552.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Rajneesh Vig acquired 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip M. Tseng bought 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. The disclosure for this purchase can be found here. Insiders purchased 42,000 shares of company stock worth $381,875 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.