Patrick Wolfe Purchases 6,100 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $49,532.00. Following the acquisition, the chief operating officer now owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. The trade was a 320.55 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $7.81 on Wednesday. BlackRock TCP Capital Corp. has a 52-week low of $7.71 and a 52-week high of $11.52. The company has a 50-day simple moving average of $8.82 and a 200 day simple moving average of $8.73. 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 $664.45 million, a PE ratio of -15.62 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.80%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Wall Street Analyst Weigh In

TCPC has been the topic of several 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 report on Friday, February 28th. Keefe, Bruyette & Woods lowered 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. Finally, StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and an average target price of $8.67.

Institutional Trading of BlackRock TCP Capital

Large investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter worth about $38,000. McIlrath & Eck LLC bought a new position in BlackRock TCP Capital during the third quarter worth about $46,000. Tower Research Capital LLC TRC boosted its position 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 worth $48,000 after purchasing an additional 3,508 shares during the period. Transce3nd LLC bought a new position in BlackRock TCP Capital during the fourth quarter worth about $70,000. Finally, Quantbot Technologies LP bought a new position in BlackRock TCP Capital during the third quarter worth about $79,000.

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.