Next Capital Management LLC Boosts Stake in Blackrock Tcp Capital Corp. $TCPC

Next Capital Management LLC increased its holdings in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 13.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,049,547 shares of the investment management company’s stock after buying an additional 366,008 shares during the quarter. Blackrock Tcp Capital comprises approximately 3.3% of Next Capital Management LLC’s portfolio, making the stock its 6th largest holding. Next Capital Management LLC’s holdings in Blackrock Tcp Capital were worth $11,009,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently commented on TCPC. Wall Street Zen upgraded Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average price target of $3.50.

Blackrock Tcp Capital Trading Down 0.9%

Shares of Blackrock Tcp Capital stock opened at $3.31 on Friday. Blackrock Tcp Capital Corp. has a 12-month low of $3.08 and a 12-month high of $7.88. The stock has a market capitalization of $277.71 million, a P/E ratio of -2.22 and a beta of 0.95. The company has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $4.20. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.64.

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

Blackrock Tcp Capital Dividend Announcement

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

Blackrock Tcp Capital Company 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.