BlackRock TCP Capital (NASDAQ:TCPC) Reaches New 52-Week Low – Should You Sell?

BlackRock TCP Capital Corp. (NASDAQ:TCPC)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $7.35 and last traded at $7.31, with a volume of 242517 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

TCPC has been the subject of several recent research reports. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Keefe, Bruyette & Woods cut their price objective 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, Wells Fargo & Company reduced their price target 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. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.67.

BlackRock TCP Capital Price Performance

The firm’s 50-day moving average price is $8.61 and its 200-day moving average price is $8.63. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $613.06 million, a PE ratio of -14.43 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 13.88%. BlackRock TCP Capital’s dividend payout ratio is presently -133.33%.

Insider Activity

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

Institutional Investors Weigh In On BlackRock TCP Capital

A number of institutional investors have recently added to or reduced their stakes in TCPC. Avior Wealth Management LLC bought a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its position in BlackRock TCP Capital by 177.2% during the 4th 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 in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital in the third quarter worth $46,000. Transce3nd LLC acquired a new stake in BlackRock TCP Capital during the 4th quarter worth about $70,000. Finally, Quantbot Technologies LP acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth approximately $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.