BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng Buys 10,000 Shares of Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Philip M. Tseng bought 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 38,587 shares in the company, valued at approximately $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 available through this hyperlink.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $7.73 on Friday. The company has a 50 day simple moving average of $8.77 and a two-hundred day simple moving average of $8.70. The stock has a market cap of $657.65 million, a price-to-earnings ratio of -15.46 and a beta of 1.55. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital Corp. has a 12 month low of $7.67 and a 12 month high of $11.52.

BlackRock TCP Capital Cuts Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.94%. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

Wall Street Analyst Weigh In

TCPC has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, February 28th. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, 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 research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.67.

Institutional Investors Weigh In On BlackRock TCP Capital

Institutional investors have recently modified their holdings of the business. CF Capital LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter valued at about $243,000. Balyasny Asset Management L.P. acquired a new position in BlackRock TCP Capital during the fourth quarter worth $177,000. Jane Street Group LLC grew its position in BlackRock TCP Capital by 291.5% in the 4th quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock valued at $1,243,000 after acquiring an additional 106,257 shares in the last quarter. Talon Private Wealth LLC purchased a new stake in BlackRock TCP Capital during the 4th quarter worth approximately $276,000. Finally, Aquatic Capital Management LLC raised its stake in shares of BlackRock TCP Capital by 146.4% in the fourth quarter. Aquatic Capital Management LLC now owns 34,000 shares of the investment management company’s stock valued at $296,000 after acquiring an additional 20,200 shares in the last quarter.

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.