BlackRock TCP Capital (NASDAQ:TCPC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of BlackRock TCP Capital (NASDAQ:TCPC - Free Report) from a hold rating to a sell rating in a report published on Friday.

TCPC has been the topic of several other research reports. Wells Fargo & Company lowered their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.33.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC traded up $0.26 during mid-day trading on Friday, reaching $6.73. The company's stock had a trading volume of 547,734 shares, compared to its average volume of 561,840. The firm's fifty day moving average price is $8.40 and its two-hundred day moving average price is $8.58. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $572.48 million, a P/E ratio of -13.59 and a beta of 1.21. BlackRock TCP Capital has a 12-month low of $6.28 and a 12-month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.86%. The ex-dividend date was Monday, March 17th. BlackRock TCP Capital's payout ratio is -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Philip M. Tseng bought 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Wolfe acquired 6,100 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now owns 8,003 shares of the company's stock, valued at $64,984.36. The trade was a 320.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 18,500 shares of company stock worth $146,444 over the last quarter. Insiders own 0.16% of the company's stock.

Institutional Trading of BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in the stock. CF Capital LLC purchased a new position in shares of BlackRock TCP Capital during the fourth quarter worth $243,000. Balyasny Asset Management L.P. purchased a new position in BlackRock TCP Capital in the 4th quarter valued at approximately $177,000. Jane Street Group LLC increased its position in shares of BlackRock TCP Capital by 291.5% during the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company's stock worth $1,243,000 after acquiring an additional 106,257 shares during the period. Talon Private Wealth LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $276,000. Finally, Aquatic Capital Management LLC boosted its holdings in BlackRock TCP Capital by 146.4% in the fourth quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company's stock valued at $296,000 after purchasing an additional 20,200 shares during the period.

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.