Dynamic Technology Lab Private Ltd Increases Stock Position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Dynamic Technology Lab Private Ltd increased its stake in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 91.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,877 shares of the investment management company’s stock after purchasing an additional 14,245 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in BlackRock TCP Capital were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barings LLC grew its position in BlackRock TCP Capital by 3,878.9% in the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares during the period. Van ECK Associates Corp grew its holdings in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock worth $21,205,000 after acquiring an additional 284,802 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in BlackRock TCP Capital by 40.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock valued at $2,364,000 after acquiring an additional 63,509 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in BlackRock TCP Capital by 12.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after acquiring an additional 54,786 shares during the period. Finally, J.W. Cole Advisors Inc. bought a new position in BlackRock TCP Capital in the third quarter valued at about $431,000.

Insiders Place Their Bets

In other BlackRock TCP Capital news, Director Philip M. Tseng bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. This trade represents a 57.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jason Mehring purchased 4,500 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares in the company, valued at $185,200.20. This trade represents a 29.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 21,400 shares of company stock worth $195,566. Corporate insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Stock Up 1.6 %

TCPC stock opened at $9.41 on Monday. The business’s 50-day moving average price is $8.46 and its 200-day moving average price is $9.58. The stock has a market cap of $805.40 million, a P/E ratio of -18.82 and a beta of 1.47. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a twelve month low of $7.71 and a twelve month high of $12.43.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm had revenue of $70.93 million for the quarter, compared to analysts’ expectations of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same period in the prior year, the firm earned $0.49 EPS. On average, equities research analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 annualized dividend and a yield of 18.70%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio is currently -271.99%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company increased their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.00.

About BlackRock TCP Capital

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.