BlackRock TCP Capital (NASDAQ:TCPC) Sets New 12-Month Low - Time to Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.02 and last traded at $8.06, with a volume of 84278 shares traded. The stock had previously closed at $8.07.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TCPC. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered BlackRock TCP Capital from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $8.50 to $8.00 in a research report on Monday, August 26th. StockNews.com lowered BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.00.

BlackRock TCP Capital Stock Up 1.4 %

The stock has a market capitalization of $700.13 million, a price-to-earnings ratio of 23.37 and a beta of 1.47. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average of $8.86 and a two-hundred day moving average of $10.02.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The firm had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same period in the previous year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that BlackRock TCP Capital Corp. will post 1.66 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 16.63%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital's payout ratio is currently 388.58%.

Insiders Place Their Bets

In other news, Director Philip M. Tseng bought 5,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Philip M. Tseng bought 5,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajneesh Vig purchased 25,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 42,000 shares of company stock valued at $381,875 in the last three months. Insiders own 0.16% of the company's stock.

Institutional Trading of BlackRock TCP Capital

Several large investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital during the 3rd quarter worth about $25,000. Sanctuary Advisors LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter valued at approximately $119,000. Insigneo Advisory Services LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter valued at approximately $122,000. Disciplined Investments LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter valued at approximately $108,000. Finally, Barings LLC boosted its stake in BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company's stock valued at $188,922,000 after purchasing an additional 17,053,151 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.