BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Buys $19,512.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) President Jason Mehring bought 2,400 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $8.13 per share, with a total value of $19,512.00. Following the acquisition, the president now owns 22,442 shares of the company's stock, valued at $182,453.46. This represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BlackRock TCP Capital Stock Down 0.6 %

Shares of NASDAQ TCPC traded down $0.05 on Monday, reaching $7.74. 995,513 shares of the company's stock traded hands, compared to its average volume of 559,645. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. The business's 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $8.74. BlackRock TCP Capital Corp. has a 12 month low of $7.71 and a 12 month high of $11.52. The company has a market cap of $658.50 million, a price-to-earnings ratio of -15.48 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.92%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital's payout ratio is -133.33%.

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Institutional Trading of BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Verdence Capital Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the third quarter valued at approximately $100,000. Verus Capital Partners LLC purchased a new stake in BlackRock TCP Capital during the 3rd quarter valued at $392,000. MeadowBrook Investment Advisors LLC increased its holdings in shares of BlackRock TCP Capital by 22.2% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 10,853 shares of the investment management company's stock worth $90,000 after purchasing an additional 1,970 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in BlackRock TCP Capital by 91.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company's stock valued at $248,000 after acquiring an additional 14,245 shares during the period. Finally, D.A. Davidson & CO. raised 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 last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TCPC. StockNews.com lowered shares of BlackRock TCP Capital from a "hold" rating to a "sell" rating in a report on Tuesday, March 4th. 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 report on Friday, February 28th. Finally, Keefe, Bruyette & Woods reduced their target price on 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. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.