BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Purchases $49,532.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe purchased 6,100 shares of the company’s stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the completion of the transaction, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. This represents a 320.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BlackRock TCP Capital Stock Performance

NASDAQ:TCPC traded down $0.34 during mid-day trading on Monday, reaching $7.74. 996,150 shares of the company’s stock were exchanged, compared to its average volume of 555,695. BlackRock TCP Capital Corp. has a one year low of $7.71 and a one year high of $11.52. The firm has a market capitalization of $658.50 million, a PE ratio of -15.48 and a beta of 1.55. The business’s fifty day simple moving average is $8.86 and its two-hundred day simple moving average is $8.74. 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 firm also recently declared 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 dividend on an annualized basis and a yield of 12.92%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio is -133.33%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On BlackRock TCP Capital

A number of hedge funds have recently bought and sold shares of TCPC. Van ECK Associates Corp grew its holdings in BlackRock TCP Capital by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,202,733 shares of the investment management company’s stock worth $19,186,000 after acquiring an additional 95,603 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in shares of BlackRock TCP Capital by 17.2% in the 4th quarter. Transcend Capital Advisors LLC now owns 1,432,456 shares of the investment management company’s stock worth $12,477,000 after purchasing an additional 209,898 shares during the period. TrueMark Investments LLC acquired a new position in shares of BlackRock TCP Capital in the 4th quarter worth approximately $5,268,000. Envestnet Asset Management Inc. lifted its position in shares of BlackRock TCP Capital by 623.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company’s stock worth $4,867,000 after purchasing an additional 481,581 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of BlackRock TCP Capital by 3.7% in the 3rd quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock worth $4,024,000 after purchasing an additional 17,218 shares during the period.

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.