BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Buys $77,400.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) CEO Philip M. Tseng acquired 10,000 shares of the firm's stock in a transaction on Friday, March 21st. The shares were acquired at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

BlackRock TCP Capital Stock Up 0.8 %

TCPC traded up $0.06 during trading hours on Tuesday, reaching $7.92. 439,779 shares of the stock traded hands, compared to its average volume of 551,446. BlackRock TCP Capital Corp. has a fifty-two week low of $7.67 and a fifty-two week high of $11.52. The company has a market cap of $673.81 million, a price-to-earnings ratio of -15.84 and a beta of 1.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. The firm's fifty day simple moving average is $8.76 and its two-hundred day simple moving average is $8.69.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.63%. BlackRock TCP Capital's dividend payout ratio is presently -133.33%.

Remove Ads

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of BlackRock TCP Capital by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company's stock worth $19,186,000 after buying an additional 95,603 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in BlackRock TCP Capital by 17.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company's stock worth $12,477,000 after acquiring an additional 209,898 shares in the last quarter. TrueMark Investments LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth about $5,268,000. Envestnet Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 623.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after purchasing an additional 481,581 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of BlackRock TCP Capital by 3.7% in the 3rd 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 in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TCPC. Keefe, Bruyette & Woods reduced their target price 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. Wells Fargo & Company reduced their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, BlackRock TCP Capital currently has an average rating of "Hold" and a consensus target price of $8.67.

BlackRock TCP Capital Company Profile

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.