Blackrock Tcp Capital Corp. $TCPC Position Raised by Next Capital Management LLC

Next Capital Management LLC grew its stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 111.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,401,416 shares of the investment management company’s stock after purchasing an additional 1,266,590 shares during the period. Blackrock Tcp Capital makes up about 5.0% of Next Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Next Capital Management LLC’s holdings in Blackrock Tcp Capital were worth $14,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in Blackrock Tcp Capital during the 2nd quarter valued at $4,045,000. North Ground Capital bought a new position in Blackrock Tcp Capital during the third quarter valued at $3,100,000. Bank of America Corp DE increased its position in Blackrock Tcp Capital by 101.6% during the second quarter. Bank of America Corp DE now owns 223,722 shares of the investment management company’s stock valued at $1,723,000 after acquiring an additional 112,769 shares during the last quarter. Ethos Financial Group LLC bought a new stake in shares of Blackrock Tcp Capital in the 3rd quarter worth about $589,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Blackrock Tcp Capital by 5,349.6% in the 1st quarter. Jones Financial Companies Lllp now owns 93,461 shares of the investment management company’s stock worth $749,000 after acquiring an additional 91,746 shares during the last quarter.

Blackrock Tcp Capital Price Performance

Shares of TCPC stock opened at $4.94 on Friday. The company has a market capitalization of $419.11 million, a P/E ratio of -38.00 and a beta of 0.89. The company’s 50-day simple moving average is $5.62 and its two-hundred day simple moving average is $6.16. Blackrock Tcp Capital Corp. has a one year low of $4.88 and a one year high of $9.48. The company has a debt-to-equity ratio of 1.42, a current ratio of 14.55 and a quick ratio of 14.55.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $50.52 million during the quarter, compared to analysts’ expectations of $51.01 million. As a group, equities analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TCPC. Zacks Research downgraded shares of Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company dropped their target price on Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a report on Monday, December 29th. Finally, Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Blackrock Tcp Capital 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.