Stifel Financial Corp Reduces Stock Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Stifel Financial Corp lowered its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,829 shares of the investment management company’s stock after selling 22,629 shares during the period. Stifel Financial Corp’s holdings in BlackRock TCP Capital were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M Holdings Securities Inc. grew its position in BlackRock TCP Capital by 2.5% in the 4th quarter. M Holdings Securities Inc. now owns 77,760 shares of the investment management company’s stock worth $677,000 after purchasing an additional 1,890 shares during the period. Mariner LLC grew its position in shares of BlackRock TCP Capital by 9.4% during the 4th quarter. Mariner LLC now owns 27,293 shares of the investment management company’s stock valued at $238,000 after acquiring an additional 2,346 shares during the period. SeaCrest Wealth Management LLC grew its position in shares of BlackRock TCP Capital by 18.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after acquiring an additional 2,350 shares during the period. Tower Research Capital LLC TRC grew its position in shares of BlackRock TCP Capital by 177.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after acquiring an additional 3,508 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of BlackRock TCP Capital by 33.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company’s stock valued at $139,000 after acquiring an additional 4,000 shares during the period.

Wall Street Analysts Forecast Growth

TCPC has been the subject of a number of recent research reports. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock TCP Capital from $7.50 to $6.50 and set an “underweight” rating for the company in a research report on Monday, April 28th.

Insider Activity at BlackRock TCP Capital

In related news, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was bought at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the purchase, the chief executive officer now owns 38,587 shares in the company, valued at approximately $298,663.38. This represents a 34.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,500 shares of company stock worth $146,444. 0.21% of the stock is owned by corporate insiders.

BlackRock TCP Capital Stock Up 2.6%

TCPC opened at $7.62 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $11.52. The firm’s fifty day moving average is $7.29 and its 200 day moving average is $8.34. The stock has a market cap of $648.29 million, a price-to-earnings ratio of -15.24 and a beta of 1.03.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. The company had revenue of $55.89 million for the quarter, compared to analysts’ expectations of $57.95 million. On average, sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.12%. The ex-dividend date of this dividend is Monday, June 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is -172.41%.

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.