BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Buys $19,512.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring purchased 2,400 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $8.13 per share, with a total value of $19,512.00. Following the completion of the acquisition, the president now owns 22,442 shares in the company, valued at approximately $182,453.46. This trade represents a 11.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

BlackRock TCP Capital Price Performance

TCPC stock opened at $8.08 on Friday. The company has a market capitalization of $687.42 million, a P/E ratio of -16.16 and a beta of 1.55. 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 Corp. has a 52-week low of $7.71 and a 52-week high of $11.52. The business has a 50-day simple moving average of $8.86 and a two-hundred day simple moving average of $8.75.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.38%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -133.33%.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC acquired a new position in BlackRock TCP Capital during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its stake in shares of BlackRock TCP Capital by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock worth $48,000 after buying an additional 3,508 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of BlackRock TCP Capital in the 3rd quarter worth approximately $46,000. Transce3nd LLC purchased a new position in shares of BlackRock TCP Capital in the 4th quarter worth approximately $70,000. Finally, Quantbot Technologies LP purchased a new position in shares of BlackRock TCP Capital in the 3rd quarter worth approximately $79,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 on the stock in a research report on Friday, February 28th. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company cut 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. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.67.

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.