Oppenheimer & Co. Inc. raised its holdings in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 22.2% in the third quarter, HoldingsChannel.com reports. The firm owned 37,803 shares of the investment management company’s stock after purchasing an additional 6,859 shares during the period. Oppenheimer & Co. Inc.’s holdings in BlackRock TCP Capital were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in TCPC. State Treasurer State of Michigan bought a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $342,000. Stock Yards Bank & Trust Co. bought a new position in BlackRock TCP Capital during the 3rd quarter worth approximately $170,000. Bank of Montreal Can grew its position in BlackRock TCP Capital by 24.3% during the 3rd quarter. Bank of Montreal Can now owns 122,000 shares of the investment management company’s stock worth $1,736,000 after acquiring an additional 23,820 shares during the last quarter. Northern Trust Corp grew its position in BlackRock TCP Capital by 30.6% during the 2nd quarter. Northern Trust Corp now owns 26,565 shares of the investment management company’s stock worth $384,000 after acquiring an additional 6,220 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in BlackRock TCP Capital by 38.6% in the 2nd quarter. California Public Employees Retirement System now owns 109,900 shares of the investment management company’s stock worth $1,588,000 after buying an additional 30,600 shares during the period. Hedge funds and other institutional investors own 48.26% of the company’s stock.
NASDAQ TCPC opened at $14.20 on Thursday. BlackRock TCP Capital Corp has a fifty-two week low of $13.71 and a fifty-two week high of $16.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 6.38 and a quick ratio of 6.38. The company has a market capitalization of $827.41 million, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. BlackRock TCP Capital had a return on equity of 11.22% and a net margin of 32.55%. The business had revenue of $48.42 million during the quarter, compared to analysts’ expectations of $47.46 million. As a group, research analysts expect that BlackRock TCP Capital Corp will post 1.57 earnings per share for the current year.
Several equities research analysts have weighed in on TCPC shares. Zacks Investment Research cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. BidaskClub upgraded BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $17.00 price objective on shares of BlackRock TCP Capital in a report on Wednesday, August 8th. Wells Fargo & Co dropped their price objective on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, October 4th. Finally, JMP Securities dropped their price objective on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.92.
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BlackRock TCP Capital Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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