BlackRock TCP Capital (NASDAQ:TCPC) Hits New 12-Month Low – Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.71 and last traded at $7.81, with a volume of 100671 shares changing hands. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

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

BlackRock TCP Capital Stock Up 0.5 %

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 stock has a 50 day moving average of $8.84 and a 200 day moving average of $8.74. The firm has a market capitalization of $661.47 million, a price-to-earnings ratio of -15.55 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 12.86%. The ex-dividend date is Monday, March 17th. BlackRock TCP Capital’s payout ratio is -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In other news, COO Patrick Wolfe bought 6,100 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the purchase, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at $64,984.36. This represents a 320.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. TrueMark Investments LLC purchased a new stake in BlackRock TCP Capital in the 4th quarter worth approximately $5,268,000. Envestnet Asset Management Inc. boosted its holdings in shares of BlackRock TCP Capital by 623.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after buying an additional 481,581 shares during the period. Columbus Macro LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth about $4,177,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $2,939,000. Finally, GraniteShares Advisors LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $2,453,000.

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.