Global Wealth Management Investment Advisory Inc. Acquires 3,331 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Global Wealth Management Investment Advisory Inc. raised its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,037 shares of the investment management company’s stock after buying an additional 3,331 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in BlackRock TCP Capital were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Melia Wealth LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at about $12,577,000. Van ECK Associates Corp lifted its position in shares of BlackRock TCP Capital by 10.6% during the fourth quarter. Van ECK Associates Corp now owns 1,059,142 shares of the investment management company’s stock valued at $12,222,000 after buying an additional 101,513 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of BlackRock TCP Capital by 1,054.0% during the fourth 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. D.A. Davidson & CO. lifted its position in shares of BlackRock TCP Capital by 3.8% during the third quarter. D.A. Davidson & CO. now owns 346,864 shares of the investment management company’s stock valued at $4,072,000 after buying an additional 12,738 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of BlackRock TCP Capital by 4.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 312,472 shares of the investment management company’s stock valued at $3,668,000 after buying an additional 14,066 shares during the last quarter.

BlackRock TCP Capital Stock Performance

TCPC opened at $10.42 on Thursday. BlackRock TCP Capital Corp. has a 12-month low of $9.61 and a 12-month high of $13.00. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $601.96 million, a PE ratio of 15.79 and a beta of 1.42. The firm has a 50 day moving average of $10.35 and a two-hundred day moving average of $11.06.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. The business had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. On average, analysts anticipate that BlackRock TCP Capital Corp. will post 1.73 EPS for the current year.

BlackRock TCP Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 13.05%. The ex-dividend date of this dividend was Wednesday, March 13th. BlackRock TCP Capital’s dividend payout ratio is presently 206.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TCPC. Oppenheimer reissued a “market perform” rating and set a $11.00 price target (down from $13.00) on shares of BlackRock TCP Capital in a research report on Wednesday, March 6th. Wells Fargo & Company increased their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Finally, Raymond James lowered shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.25.

BlackRock TCP Capital Company Profile

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.