Insider Buying: BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Purchases $49,532.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) COO Patrick Wolfe purchased 6,100 shares of the business’s stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $8.12 per share, for a total transaction of $49,532.00. Following the transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at $64,984.36. This trade represents a 320.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

BlackRock TCP Capital Trading Down 0.9 %

Shares of TCPC stock opened at $7.74 on Thursday. The business’s 50 day moving average is $8.81 and its two-hundred day moving average is $8.72. BlackRock TCP Capital Corp. has a twelve month low of $7.71 and a twelve month high of $11.52. The company has a market capitalization of $658.50 million, a P/E ratio of -15.48 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.92%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Trading of BlackRock TCP Capital

A number of institutional investors have recently modified their holdings of TCPC. Dynamic Technology Lab Private Ltd boosted its stake in shares of BlackRock TCP Capital by 91.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 29,877 shares of the investment management company’s stock valued at $248,000 after buying an additional 14,245 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of BlackRock TCP Capital by 3.7% in the third quarter. D.A. Davidson & CO. now owns 485,458 shares of the investment management company’s stock valued at $4,024,000 after buying an additional 17,218 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of BlackRock TCP Capital in the third quarter valued at approximately $79,000. CreativeOne Wealth LLC boosted its stake in shares of BlackRock TCP Capital by 13.8% in the third quarter. CreativeOne Wealth LLC now owns 67,794 shares of the investment management company’s stock valued at $562,000 after buying an additional 8,238 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of BlackRock TCP Capital in the third quarter valued at approximately $608,000.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company cut their price target on 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. Keefe, Bruyette & Woods cut 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 report on Friday, February 28th. Finally, StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus price target of $8.67.

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.