North Ground Capital Invests $3.10 Million in Blackrock Tcp Capital Corp. $TCPC

North Ground Capital purchased a new stake in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 500,000 shares of the investment management company’s stock, valued at approximately $3,100,000. Blackrock Tcp Capital makes up about 1.9% of North Ground Capital’s investment portfolio, making the stock its 21st biggest holding. North Ground Capital owned about 0.59% of Blackrock Tcp Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ethos Financial Group LLC acquired a new stake in shares of Blackrock Tcp Capital in the 3rd quarter valued at $589,000. Next Capital Management LLC lifted its position in shares of Blackrock Tcp Capital by 2,131.4% during the 2nd quarter. Next Capital Management LLC now owns 1,134,826 shares of the investment management company’s stock worth $8,738,000 after buying an additional 1,083,968 shares during the last quarter. Access Investment Management LLC acquired a new stake in Blackrock Tcp Capital in the second quarter valued at about $418,000. Mission Wealth Management LP bought a new position in Blackrock Tcp Capital in the second quarter valued at about $114,000. Finally, Bartlett & CO. Wealth Management LLC raised its stake in Blackrock Tcp Capital by 25.0% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 20,000 shares of the investment management company’s stock worth $154,000 after acquiring an additional 4,000 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TCPC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Wells Fargo & Company decreased their target price on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Finally, Zacks Research upgraded Blackrock Tcp Capital from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Blackrock Tcp Capital has a consensus rating of “Hold” and an average target price of $6.50.

Blackrock Tcp Capital Stock Down 1.0%

NASDAQ:TCPC opened at $5.79 on Monday. Blackrock Tcp Capital Corp. has a one year low of $5.29 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. The company has a market cap of $491.22 million, a PE ratio of -44.54 and a beta of 0.89. The firm’s 50 day simple moving average is $5.73 and its 200 day simple moving average is $6.38.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, November 6th. The investment management company reported $0.32 earnings per share (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. On average, research analysts anticipate that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date was Wednesday, December 17th. Blackrock Tcp Capital’s payout ratio is -769.23%.

About Blackrock Tcp Capital

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.