BlackRock TCP Capital (NASDAQ:TCPC) Hits New 1-Year Low - Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $7.71 and last traded at $7.81, with a volume of 100671 shares changing hands. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TCPC shares. Wells Fargo & Company reduced their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating for the company in a report on Friday, February 28th. StockNews.com upgraded shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.67.

BlackRock TCP Capital Stock Performance

The stock has a market cap of $657.65 million, a PE ratio of -15.46 and a beta of 1.55. The stock has a fifty day simple moving average of $8.77 and a two-hundred day simple moving average of $8.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

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BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.94%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital's dividend payout ratio (DPR) is currently -133.33%.

Insider Buying and Selling

In related news, CEO Philip M. Tseng bought 10,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the completion of the transaction, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of the company's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 18,500 shares of company stock worth $146,444 over the last ninety days. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd increased its holdings in shares of BlackRock TCP Capital by 91.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company's stock valued at $248,000 after purchasing an additional 14,245 shares during the period. D.A. Davidson & CO. increased its holdings in shares of BlackRock TCP Capital by 3.7% during the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company's stock valued at $4,024,000 after purchasing an additional 17,218 shares during the period. Quantbot Technologies LP acquired a new position in shares of BlackRock TCP Capital during the third quarter valued at $79,000. CreativeOne Wealth LLC increased its holdings in shares of BlackRock TCP Capital by 13.8% during the third quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company's stock valued at $562,000 after purchasing an additional 8,238 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of BlackRock TCP Capital during the third quarter valued at $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.