BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $6.27 and last traded at $7.03, with a volume of 1157454 shares. The stock had previously closed at $6.47.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on TCPC shares. Wells Fargo & Company dropped their target price 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 dropped their price objective on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.33.
Read Our Latest Report on BlackRock TCP Capital
BlackRock TCP Capital Stock Performance
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 firm has a market capitalization of $569.59 million, a P/E ratio of -13.39 and a beta of 1.21. The business's 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $8.53.
BlackRock TCP Capital Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 14.94%. BlackRock TCP Capital's dividend payout ratio is -133.33%.
Insider Activity
In related news, COO Patrick Wolfe purchased 6,100 shares of the company's stock in a transaction dated 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 acquisition, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. The trade was a 320.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip M. Tseng acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares of the company's stock, valued at $298,663.38. This trade represents a 34.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,500 shares of company stock valued at $146,444 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.
Institutional Trading of BlackRock TCP Capital
A number of hedge funds have recently bought and sold shares of TCPC. Avior Wealth Management LLC bought a new position in BlackRock TCP Capital in the 4th quarter worth $38,000. McIlrath & Eck LLC purchased a new stake in BlackRock TCP Capital in the 3rd quarter worth $46,000. Tower Research Capital LLC TRC boosted its stake in BlackRock TCP Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after buying an additional 3,508 shares during the last quarter. Transce3nd LLC purchased a new position in shares of BlackRock TCP Capital in the fourth quarter valued at $70,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of BlackRock TCP Capital in the 4th quarter worth $84,000.
BlackRock TCP Capital Company Profile
(
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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.
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