GatePass Capital LLC Purchases Shares of 277,220 Blackrock Tcp Capital Corp. $TCPC

GatePass Capital LLC purchased a new stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 277,220 shares of the investment management company’s stock, valued at approximately $1,001,000. GatePass Capital LLC owned about 0.33% of Blackrock Tcp Capital at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sound Income Strategies LLC increased its position in shares of Blackrock Tcp Capital by 188.7% in the fourth quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after purchasing an additional 3,315 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Blackrock Tcp Capital in the 4th quarter worth $59,000. CIBC Bancorp USA Inc. bought a new position in shares of Blackrock Tcp Capital in the 3rd quarter worth $65,000. Cerity Partners LLC purchased a new stake in shares of Blackrock Tcp Capital during the 4th quarter valued at $70,000. Finally, Millennium Management LLC purchased a new stake in shares of Blackrock Tcp Capital during the 4th quarter valued at $73,000.

Analyst Upgrades and Downgrades

TCPC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Tuesday, June 2nd. Wall Street Zen raised Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and a consensus target price of $3.50.

Blackrock Tcp Capital Trading Down 0.9%

TCPC stock opened at $3.31 on Friday. The company has a market capitalization of $277.71 million, a PE ratio of -2.22 and a beta of 0.95. The company has a debt-to-equity ratio of 1.64, a quick ratio of 21.44 and a current ratio of 21.44. Blackrock Tcp Capital Corp. has a one year low of $3.08 and a one year high of $7.88. The company’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $4.20.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Blackrock Tcp Capital had a negative net margin of 66.92% and a positive return on equity of 14.30%. The company had revenue of $42.58 million during the quarter, compared to analysts’ expectations of $40.10 million. As a group, analysts predict that Blackrock Tcp Capital Corp. will post 0.83 earnings per share for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 20.5%. The ex-dividend date was Tuesday, June 16th. Blackrock Tcp Capital’s dividend payout ratio is presently -45.64%.

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.