Canal Capital Management LLC Reduces Stake in BlackRock TCP Capital Corp (TCPC)

Canal Capital Management LLC cut its stake in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,504 shares of the investment management company’s stock after selling 7,306 shares during the quarter. Canal Capital Management LLC’s holdings in BlackRock TCP Capital were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of BlackRock TCP Capital by 12.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 96,460 shares of the investment management company’s stock valued at $1,258,000 after purchasing an additional 10,513 shares during the last quarter. CFO4Life Group LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $152,000. D.A. Davidson & CO. boosted its stake in BlackRock TCP Capital by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 248,194 shares of the investment management company’s stock valued at $3,236,000 after acquiring an additional 10,239 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in BlackRock TCP Capital by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 41,090 shares of the investment management company’s stock valued at $536,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $209,000. 43.60% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on TCPC shares. BidaskClub cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. National Securities reaffirmed a “buy” rating and issued a $19.00 price objective on shares of BlackRock TCP Capital in a research note on Monday, November 12th. Zacks Investment Research raised shares of BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, January 10th. Finally, ValuEngine raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. BlackRock TCP Capital has a consensus rating of “Hold” and an average price target of $16.70.

In other news, insider Rajneesh Vig purchased 10,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, December 21st. The shares were bought at an average cost of $12.92 per share, with a total value of $129,200.00. Following the completion of the transaction, the insider now directly owns 49,750 shares in the company, valued at approximately $642,770. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard Levkowitz purchased 5,000 shares of BlackRock TCP Capital stock in a transaction dated Friday, November 16th. The shares were purchased at an average cost of $13.89 per share, for a total transaction of $69,450.00. Following the completion of the transaction, the chief executive officer now owns 119,144 shares of the company’s stock, valued at $1,654,910.16. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 40,725 shares of company stock worth $549,244. Insiders own 11.40% of the company’s stock.

Shares of TCPC stock opened at $14.43 on Monday. The company has a market capitalization of $848.11 million, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. BlackRock TCP Capital Corp has a 52-week low of $12.52 and a 52-week high of $14.98. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.90.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $49.48 million for the quarter, compared to analysts’ expectations of $48.06 million. BlackRock TCP Capital had a net margin of 31.79% and a return on equity of 11.56%. As a group, equities analysts anticipate that BlackRock TCP Capital Corp will post 1.6 earnings per share for the current year.

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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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Institutional Ownership by Quarter for BlackRock TCP Capital (NASDAQ:TCPC)

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