Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Acquires 4,500 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring bought 4,500 shares of the stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the purchase, the president now directly owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock opened at $9.41 on Friday. The company has a market cap of $805.41 million, a P/E ratio of -18.82 and a beta of 1.47. BlackRock TCP Capital Corp. has a one year low of $7.71 and a one year high of $12.43. The business has a fifty day moving average of $8.44 and a two-hundred day moving average of $9.60. 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 (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $70.93 million during the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%. During the same quarter last year, the business earned $0.49 EPS. As a group, analysts predict that BlackRock TCP Capital Corp. will post 1.65 earnings per share for the current fiscal year.

BlackRock TCP Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 18.70%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -272.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Institutional Investors Weigh In On BlackRock TCP Capital

Institutional investors and hedge funds have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital during the third quarter worth $25,000. McIlrath & Eck LLC acquired a new stake in BlackRock TCP Capital in the third quarter valued at $46,000. International Assets Investment Management LLC purchased a new position in shares of BlackRock TCP Capital in the second quarter valued at $60,000. Pathway Financial Advisers LLC raised its stake in shares of BlackRock TCP Capital by 729.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,254 shares of the investment management company’s stock worth $60,000 after buying an additional 6,379 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth about $79,000.

BlackRock TCP Capital Company Profile

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.