BlackRock TCP Capital (NASDAQ:TCPC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of 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 analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, BlackRock TCP Capital has an average rating of “Hold” and an average price target of $8.67.

BlackRock TCP Capital Stock Performance

Shares of TCPC opened at $7.99 on Thursday. BlackRock TCP Capital has a twelve month low of $7.67 and a twelve month 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. The firm’s 50 day moving average price is $8.69 and its two-hundred day moving average price is $8.66. The firm has a market cap of $679.77 million, a P/E ratio of -15.98 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business 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 is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 12.52%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Insider Buying and Selling at BlackRock TCP Capital

In other news, COO Patrick Wolfe acquired 6,100 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the purchase, the chief operating officer now directly owns 8,003 shares of the company’s stock, valued at approximately $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $7.74 per share, with a total value of $77,400.00. Following the completion of the purchase, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. The trade was a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 18,500 shares of company stock worth $146,444 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock TCP Capital

Several institutional investors and hedge funds have recently bought and sold shares of TCPC. M Holdings Securities Inc. boosted its stake in shares of BlackRock TCP Capital by 2.5% during the 4th quarter. M Holdings Securities Inc. now owns 77,760 shares of the investment management company’s stock worth $677,000 after acquiring an additional 1,890 shares during the period. Mariner LLC boosted its position in BlackRock TCP Capital by 9.4% during the fourth quarter. Mariner LLC now owns 27,293 shares of the investment management company’s stock worth $238,000 after purchasing an additional 2,346 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of BlackRock TCP Capital by 18.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 2,350 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of BlackRock TCP Capital by 177.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after purchasing an additional 3,508 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in shares of BlackRock TCP Capital by 33.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 16,000 shares of the investment management company’s stock worth $139,000 after buying an additional 4,000 shares during the last quarter.

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.