Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Purchases 2,400 Shares of Stock

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

BlackRock TCP Capital Stock Down 2.0 %

Shares of NASDAQ TCPC traded down $0.16 during mid-day trading on Thursday, reaching $7.96. The company had a trading volume of 895,618 shares, compared to its average volume of 623,773. The stock has a fifty day moving average of $8.89 and a two-hundred day moving average of $8.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The company has a market capitalization of $677.21 million, a price-to-earnings ratio of -15.92 and a beta of 1.55. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.56%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s payout ratio is presently -133.33%.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing an additional 3,508 shares during the last quarter. McIlrath & Eck LLC acquired a new position in BlackRock TCP Capital during the third quarter valued at approximately $46,000. Transce3nd LLC acquired a new position in BlackRock TCP Capital during the fourth quarter valued at approximately $70,000. Finally, Quantbot Technologies LP acquired a new position in BlackRock TCP Capital during the third quarter valued at approximately $79,000.

Analyst Ratings Changes

Several research analysts have commented on TCPC shares. Wells Fargo & Company decreased their target price 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. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.67.

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.