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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the transaction, the chief executive officer now owns 38,587 shares in the company, valued at $298,663.38. The trade was a 34.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

BlackRock TCP Capital Stock Up 0.1 %

BlackRock TCP Capital stock opened at $7.73 on Friday. The firm has a market capitalization of $657.65 million, a P/E ratio of -15.46 and a beta of 1.55. The company has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $8.70. BlackRock TCP Capital Corp. has a one year low of $7.67 and a one year high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37.

BlackRock TCP Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.94%. BlackRock TCP Capital’s dividend payout ratio (DPR) is -133.33%.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC acquired a new position in shares of BlackRock TCP Capital in the fourth quarter worth about $38,000. McIlrath & Eck LLC purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter valued at approximately $46,000. Tower Research Capital LLC TRC boosted its stake in BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after purchasing an additional 3,508 shares during the period. Transce3nd LLC purchased a new position in BlackRock TCP Capital during the 4th quarter worth approximately $70,000. Finally, Quantbot Technologies LP acquired a new stake in BlackRock TCP Capital during the 3rd quarter valued at $79,000.

Wall Street Analysts Forecast Growth

TCPC has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on shares of 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. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.