Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Acquires 6,100 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) COO Patrick Wolfe purchased 6,100 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now directly owns 8,003 shares of the company's stock, valued at $64,984.36. This trade represents a 320.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

BlackRock TCP Capital Stock Up 0.3 %

NASDAQ:TCPC traded up $0.03 during trading hours on Friday, hitting $7.75. The stock had a trading volume of 361,005 shares, compared to its average volume of 556,878. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 1-year low of $7.67 and a 1-year high of $11.52. The business has a 50 day simple moving average of $8.79 and a two-hundred day simple moving average of $8.71. The company has a market cap of $658.92 million, a PE ratio of -15.45 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.91%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital's payout ratio is currently -133.33%.

Remove Ads

Analyst Ratings Changes

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating on the stock in a report on Friday, February 28th. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.67.

Institutional Trading of BlackRock TCP Capital

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in shares of BlackRock TCP Capital by 189.3% during the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company's stock worth $302,000 after buying an additional 23,857 shares in the last quarter. Columbus Macro LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth $4,177,000. GraniteShares Advisors LLC acquired a new position in BlackRock TCP Capital in the fourth quarter worth $2,453,000. EP Wealth Advisors LLC acquired a new position in BlackRock TCP Capital in the third quarter worth $526,000. Finally, Paloma Partners Management Co acquired a new position in BlackRock TCP Capital in the third quarter worth $608,000.

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.