BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring Buys 2,400 Shares

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

BlackRock TCP Capital Trading Up 1.5 %

Shares of TCPC stock opened at $8.08 on Friday. The company’s fifty day simple moving average is $8.86 and its two-hundred day simple moving average is $8.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 39.37 and a quick ratio of 39.37. BlackRock TCP Capital Corp. has a 1 year low of $7.71 and a 1 year high of $11.52. The stock has a market capitalization of $687.42 million, a price-to-earnings ratio of -16.16 and a beta of 1.55.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.38%. BlackRock TCP Capital’s payout ratio is currently -133.33%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CF Capital LLC bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth $243,000. Balyasny Asset Management L.P. bought a new position in shares of BlackRock TCP Capital in the fourth quarter worth $177,000. Jane Street Group LLC increased its holdings in shares of BlackRock TCP Capital by 291.5% in the fourth quarter. Jane Street Group LLC now owns 142,714 shares of the investment management company’s stock worth $1,243,000 after purchasing an additional 106,257 shares during the period. Talon Private Wealth LLC purchased a new position in BlackRock TCP Capital in the fourth quarter worth $276,000. Finally, Aquatic Capital Management LLC grew its position in 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 worth $296,000 after acquiring an additional 20,200 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective 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. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their target price 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. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.