BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Purchases $227,250.00 in Stock

BlackRock TCP Capital Corp. (NASDAQ:TCPC) CEO Rajneesh Vig purchased 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

BlackRock TCP Capital Stock Down 1.2 %

Shares of BlackRock TCP Capital stock opened at $9.06 on Wednesday. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. BlackRock TCP Capital Corp. has a twelve month low of $8.59 and a twelve month high of $12.59. The company has a market cap of $775.45 million, a price-to-earnings ratio of 25.89 and a beta of 1.48. The company’s 50 day moving average is $10.06 and its 200 day moving average is $10.40.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The firm had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 million. During the same period last year, the business posted $0.48 EPS. Research analysts anticipate that BlackRock TCP Capital Corp. will post 1.68 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 15.01%. BlackRock TCP Capital’s dividend payout ratio is currently 388.58%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company lowered shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.50 to $8.00 in a research note on Monday, August 26th. Keefe, Bruyette & Woods reduced 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. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

Institutional Investors Weigh In On BlackRock TCP Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in BlackRock TCP Capital by 1,054.0% during the fourth quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after buying an additional 376,278 shares during the period. Spire Wealth Management boosted its stake in shares of BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after acquiring an additional 1,730 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at $79,000. Jump Financial LLC purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter worth $198,000. Finally, PNC Financial Services Group Inc. raised its holdings in BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after purchasing an additional 1,200 shares during the period.

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.