Jason Mehring Buys 4,500 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) President Jason Mehring bought 4,500 shares of BlackRock TCP Capital stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the completion of the acquisition, the president now owns 19,914 shares in the company, valued at approximately $185,200.20. The trade was a 29.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC traded up $0.15 during midday trading on Friday, hitting $9.41. The company’s stock had a trading volume of 432,942 shares, compared to its average volume of 502,590. 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 business’s 50 day simple moving average is $8.44 and its 200 day simple moving average is $9.60. BlackRock TCP Capital Corp. has a 12-month low of $7.71 and a 12-month high of $12.43. The company has a market cap of $805.41 million, a P/E ratio of -18.82 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%. The business had revenue of $70.93 million for the quarter, compared to analysts’ expectations of $69.13 million. During the same period in the previous year, the company earned $0.49 earnings per share. On average, analysts forecast that BlackRock TCP Capital Corp. will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 18.70%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio is presently -272.00%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently made changes to their positions in TCPC. Wilmington Savings Fund Society FSB acquired a new stake in shares of BlackRock TCP Capital in the third quarter worth approximately $224,000. McIlrath & Eck LLC acquired a new stake in shares of BlackRock TCP Capital during the third quarter worth approximately $46,000. Y Intercept Hong Kong Ltd boosted its holdings in BlackRock TCP Capital by 190.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 71,075 shares of the investment management company’s stock worth $589,000 after purchasing an additional 46,595 shares during the period. EP Wealth Advisors LLC acquired a new position in BlackRock TCP Capital in the third quarter worth $526,000. Finally, Jane Street Group LLC boosted its holdings in shares of BlackRock TCP Capital by 189.3% during the third quarter. Jane Street Group LLC now owns 36,457 shares of the investment management company’s stock valued at $302,000 after acquiring an additional 23,857 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently commented on TCPC shares. Wells Fargo & Company upped their price target on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Finally, LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.00.

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.